Bitcoin ETF?

ph1l said:
Exactly (just like I wrote here)-- the only ones benefitting from bitcoin ETFs are the issuers and custodians collecting fees and bitcoin owners not paying someone else to hold them.
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Some people cannot or are not capable of buying real bitcoins and storing the private keys, without losing them

My friend (real friend, not metaphorical friend) is still better off with the bitcoinIRA than 99% of the mutual funds or etf's and now he will be better off if he is able to roll over to a traditional IRA with new bitcoin spot etf's

Something happened in the past that got the whole retirement industry fucked up for the workers. Not hyperbole, but literally FUCKED UP

No one was looking out for the workers, not the employers, not the fiduciaries, not the lawmakers

If people go with the bitcoinIRA or bitcoin spot etf and bitcoin goes to $1M and higher, it will be a big chance for the people investing for their retirement

Watch this video and you will understand if I'm telling you the truth. Watch it in 1.75x speed if you'd like


 
ph1l said:
Exactly (just like I wrote here)-- the only ones benefitting from bitcoin ETFs are the issuers and custodians collecting fees and bitcoin owners not paying someone else to hold them.
More...
The thing I like about ETF is that large retirement funds and pension funds now have an option to buy spot BTC. That’s great for the price of BTC. I won’t be buying an ETF in my personal account but I have an employer 401k that can now buy BTC if they choose to. I’m planning on pestering my 401k manager to include the ETF in one of their funds that are available to me.
 
Daridas said:
I think the fake news about Black Rock’s ETF was just a pump and dump scheme by some whales who wanted to manipulate the market. Black Rock is one of the largest asset managers in the world, so if they had a Bitcoin ETF, it would be a huge deal for the crypto space. It would attract more institutional investors and increase the legitimacy and liquidity of Bitcoin. However, as far as I know, the SEC has not approved any spot Bitcoin ETFs yet, only futures-based ones. These are not the same as holding actual Bitcoin, and they have higher fees and tracking errors. I don’t think futures-based ETFs are good for Bitcoin, because they don’t support the network or the miners. I hope the SEC will eventually approve a spot Bitcoin ETF, but until then, I prefer to buy and hold Bitcoin directly or through a trust like GBTC. That’s just my opinion, though. What do you think?
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The spot ETF's are approved......they were approved on January 10th.....
 
Not only that these ETFs are smashing successes, even more then they were a couple weeks ago. Flows and volume are actually going up! So far this week (its Friday AM, 03/08/2024) the US ETFs as a group have taken in more than 2BB THIS WEEK ... AND THERE IS STILL 1 DAY LEFT!

You dont have to be a math major to know that ~2BB a week is around 100BB a freakin year! Demand is exploding, doubters in shambles.
 
jbusse said:
All the hoopla over the ETF approvals and still the only way to access bitcoin in my 403b is via the futures based BTCFX. Fidelity operates the 403b, but ETFs are not allowed, only open end mutual funds (per employer stipulations). Seems that this will be an issue for a lot of investors, who often hold a good chunk of their investable assets in their retirement account.
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Last week I transferred a 401k from a former employer to an IRA with Fidelity. They are waving the fee until August.

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