What has been standing in the way of a pure-Bitcoin ETF?

What has been standing in the way of a pure-Bitcoin ETF?

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  1. Gary Gensler made over $100 million as a banker and has banker buddies to protect. That’s why we don’t have a spot Bitcoin ETF. I don’t think there will ever be one under Gensler. He thinks that a futures ETF with terrible qualities and 10%+ yearly fees is him protecting investors.

  2. gary gensler says the underlying asset needs to be stable and not manipulated. he thinks bitcoin futures contracts are more stable and less manipulated than pure bitcoin.

  3. Unpopular opinion scratch that fact! Even if a purely bitcoin ETF is created there is nothing that can be done to independently verify the outstanding shares and therefore creates another attack vector by Wall Street to further dilute bitcoin value by creating additional shares (remember gme?). That and the whole counterparty risk thing.

    At the end of the day there is no equivalent to owning your own keys and running your own node to send, receive, and verify your own transactions to be a truly self sovereign individual. That’s the whole point IMO (taking the power away from the banks and giving it to the people). Don’t trust, verify! It’s the only thing that you can after all with true mathematical certainty.

  4. tldr; Exchange-traded funds (ETFs) are investment funds that track a basket of assets on the stock market and can be traded in the same manner as regular stocks. While there are ETFs for just about any asset, the problem with crypto is that there is still uncertainty among regulators about how to define Bitcoin.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  5. Was actually surprised nobody here In this thread has actually replied with correct answer. The reason is because with real bitcoins in the underlying ETF it proposes risk that that given fund could be hacked one day and all the underlying investors money is gone with no way to fix the problem. With regulated futures contracts around bitcoin there is 0% chance they have any bitcoin ever get stolen. All they have to do is keep some accounting straight to pull it off.

What do you think?

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