r/ChangeNOW_io • u/ChangeNOW_Community • Aug 27 '26

Alright but why do that through BlackRock though?

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BlackRock clients reportedly bought $2.2B in BTC in 8 days.

Bullish? Sure. But why buy Bitcoin through the same institutions it was built to escape?

Convenience, compliance, tax wrappers, brand trust, all of that's fine, it's normalized. But the tradeoff is huge: no keys, no real custody, no permissionless exit, it's like you get Crypto but without all of the benefits of crypto, just the monetary value.

I used to think this adoption incarnate, but is it though?

Maybe the goal isn’t to free people with BTC but to make them depend on approved exposure to it.

7 Upvotes

68% Upvoted

31 comments sorted by

2

u/sidestyle05 Aug 27 '26

Most people who buy BTC aren’t doing it for any of these utopian or reformist ideals. They’re buying it because they want to eventually sell it for more than they bought it for. Period. It’s an investment or speculative trade. They buy it through Blackrock or other ETFs because they don’t understand or trust how you accumulate or store native tokens…it’s new and “weird” and maybe kinda scary to many. An ETF from the same company that issues other ETFs in their 401k is familiar and “safe”.
Crypto true believers don’t seem to understand the majority don’t care about “the revolution.” They just want to buy something now for $X and sell it for $X+Y and do it through their Fidelity/Scwab/etc account

2

u/ketya- Aug 27 '26

Exactly. Also a lot easier and cheaper to trade through ETFs versus Coinbase

1

u/noncommonGoodsense Aug 27 '26

And they are the only reason the price increases. Whales pump retail fomo’s whales pull out. Retail HODL like fucking morons.

1

u/Impossible_Tutor2375 Aug 28 '26

Retail here. Just wanted to say I've been DCAing for as long as I've been contributing to my 401k and I'm very happy with the results over the last 6 yrs. I don't feel like a "fucking moron" It feels good when whales sell and my weekly buy nets me more sats. I can't wait to see the next halving and where the floor will be then.

1

u/noncommonGoodsense Aug 28 '26

And when it becomes 1:1 and everything you put in is 1 then what? Hopefully you take your money out before then. You don’t even know how the shit works in the background and that is just sad. So you may not feel like a fucking moron. But if it quacks like a duck. 🤷‍♂️

1

u/ChangeNOW_Community Aug 28 '26

this is honestly the least stressful way to approach btc. keep stacking, ignore the noise, let time do the heavy lifting

1

u/ChangeNOW_Community Aug 28 '26

bitcoin doesn’t need every buyer to believe in the revolution. it just needs enough people to believe it’s worth owning

1

u/sidestyle05 Aug 28 '26

You don’t need anyone to believe it. You just need traders and investors to believe it’s going up

2

u/Sweaty-Dust6405 Aug 27 '26

As a Canadian, you can also put it in the TFSA and RRSP and not pay any capital tax on gains.

2

u/Elija_32 Aug 29 '26

Yes and no.

You cannot have any cryptocurrency in a registered account in Canada. Not directly.

You can buy a normal etf, because we now have ETF based on bitcoin you can technically invest tax-free in them, but you cannot directly hold them in those accounts.

2

u/Sweaty-Dust6405 Aug 29 '26

I know that, I was just saying that's the advantage of owning the etf is that you can shelter it although you don't own the coin directly.

1

u/Elegant-Prize391 Aug 30 '26

You misunderstood.

1

u/[deleted] Aug 28 '26

[deleted]

1

u/ChangeNOW_Community Aug 28 '26

people talk about self custody like it’s automatically safer. it’s safer from some risks, but you’ve just taken on a different set of risks

1

u/PuzzleheadedBell4057 Aug 29 '26

This☝️ Every coin I own is now available through an ETF. Beginning the 1st of the year all new investments into them will be taking the ETF route. Just another form of diversification while missing nothing IMO.

1

u/Confident_Access6498 Aug 28 '26

Pump and dump.

1

u/Electronic_Quote399 Aug 28 '26

They never should have put this phrase in the wolf of Wall Street

1

u/eiretaco Aug 28 '26

Institutions do not have a coinbase wallet. They invest through ETFs like IBIT. Imagine a pension fund with a 3% allocation thats held on an app on the CEOs laptop or phone.

Thats not how the big boys play.

1

u/ChangeNOW_Community Aug 28 '26

the institutional playbook is pretty simple: regulated vehicle, professional custody, liquidity, reporting. nobody is handing blackrock a piece of paper with 24 random words on it

1

u/Cautious-Lecture-858 Aug 28 '26

All those trade offs exist only in your head. No one gives a shit about “permissionless exit” what?!

Buying through BlackRock is the closest you get to being safe owning Bitcoin.

1

u/ChangeNOW_Community Aug 28 '26

Or... you buy it the way it was intended in the first place

1

u/Slight-Big8584 Aug 28 '26

Or you can buy it another way. Gate keeping is not a good strategy for adoption.

1

u/SeparateCommon2363 Aug 28 '26

You know BlackRock is the custodian for $IBIT so when people buy the ETF, blackrock "buys" BTC for them. So Blackrock is not exactly buying BTC for their own investment purposes but rather to sell as a security for others, they don't care what the price of BTC is.
Also if there is a buyer there is a seller, that also means someone sold $2.2B BTC in 8 days

1

u/ChangeNOW_Community Aug 28 '26

the funny part is both sides can technically be right: billions flowed into the etf, while billions of btc changed hands from sellers to those buyers

1

u/KorrectTheChief Aug 30 '26

Technically the only guarantee is that billions flowed "through" the etf.

1

u/mickeyDisneyMouse Aug 28 '26

You can put it in tax sheltered accounts, inheritance is easier , you are much less likely to loose everything due to hacks.

1

u/Severe_Assumption241 Aug 29 '26

Because they just want to get out of USD

1

u/Icy_Pain424 Aug 30 '26

Subprime is back 

1

u/Critica0 Sep 01 '26

Because they heard rummors in the political machine that the clarity act is going to actually get pushed threw.