which Bitcoin ETF does not hold real BTC?
- Thread starter trend2009
- Start date
Nope. IB is not a crypto exchange.
Actually, you are totally wrong on this point. Bitwise has published the address of their funds so that you can check that they actually own what they say they do. There was a discussion about why they are using an old address type, and especially because its not multisig. I'm waiting to find out more info on this myself as I'm moving all of my ETF bitcoin into Bitwise as I like the low management fees and the fact they are donating 10% of profits to bitcoin developers.
https://x.com/BitwiseInvest/status/1750224060620111912?s=20
In the Blackrock prospectus/presentation one can read:
"Shares of the Trust are not deposits or other obligations of or guaranteed by BlackRock, Inc., and its affiliates, and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency."
"There can be no assurance that security procedures designed to protect the Trust’s assets will actually work as designed or prove to be successful in safeguarding the Trust’s assets against all possible sources of theft, loss or damage."
"Shares of the Trust are not deposits or other obligations of or guaranteed by BlackRock, Inc., and its affiliates, and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency."
"There can be no assurance that security procedures designed to protect the Trust’s assets will actually work as designed or prove to be successful in safeguarding the Trust’s assets against all possible sources of theft, loss or damage."
What the hell does this have to do with anything? Either they buy insurance or they don't. Go read some prospectus and find out if they actually buy it.
What a moronic viewpoint. Sure they have been major ransomware incidents involving Bitcoin as the payment all over the world, but no one would ever steal it? News flash... There are these things called countries. They don't always cooperate with each other. In other words ever if you have records identifying specific people and just just a disposable LLC, you may able to do jack shit to get your money back.
Try getting a Chinese or Russian scammer extradited and let me know how it goes.
And of course that all makes the ridiculous assumption that they continue to hold those exact Bitcoins. No one would ever spend or launder a stolen asset right? They would just sit around and patiently wait for you to ask for it back because there are records!
U
Unfortunately this means giving your keys to some other third party.
Even if you trust them, do you trust them not to get hacked for the next few decades?
Unfortunately this means giving your keys to some other third party.
Even if you trust them, do you trust them not to get hacked for the next few decades?
What does that have to do with anything??? You're the one that asked the question as if you don't know how they run. I'm not the idiot here, you're the one that asked the question.
Nope, not when you mess with the SEC, they will have you extradited in a heartbeat. And yes, we do work with other countries to bring hackers to justice, why do you think there are global meetings targeting money laundering and other financial crimes? Why would other countries want to hide hackers knowing that they have the power to hack and attack assets in their own country?
Nothing you say makes an ounce of sense and is only backed by your personal opinion.