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RE: The clock has started on another Bitcoin ETF
Who wants a Bitcoin ETF and why???
An ETF will destroy Bitcoin by making it into a fractional reserve system.
Who wants a Bitcoin ETF and why???
An ETF will destroy Bitcoin by making it into a fractional reserve system.
How so? Some of the most recent applications are physically backed ETF applications. Meaning that every share will be backed by bitcoin held by the ETF. That and the vast majority of big funds would buy bitcoin if they could do so on a regulated exchange through a regulated broker, the same way they buy stocks currently.
In theory yes but....That's not how it works with Gold for example. In fact the ratio of gold held to gold ETFs is over 1:100.
This is how they manipulate the Gold prices. By counting the ETFs as equivalent of gold (which of course they're not) they artificially inflate the gold supply, which reduces it's price.
Now they want to do the same with bitcoin.