The new BTC ETFs are not a positive for the space
I think it may be unpopular but I do not believe the new ETFs for BTC are going to be a positive for the market like back when the gold ETFs were approved. BTC being a digital asset makes it so much easier acquire compared to heavy physical gold. The gold ETF actually made it possible to invest for a regular person who didn’t want to deal with storing gold. Storing BTC is simple already. Why do people think the BTC ETFs are going to bring sudden rush of demand? Any big players or even small could have bought CAD or AUD BTC ETFs for years already, just as an example. I think it’s already crypto involved people who are buying the ETFs not new ones. At least not until FOMO kicks in during the bull market. Anyways, just ranting cause I’m tired of crypto influencers saying all these big funds are going to start investing just because there’s a U.S. BTC ETF, when anyone could buy it in a different market
submitted by /u/Eximietate
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