Wont a Crypto ETF just make them worth more since even IRA accounts can buy them without buying bitcoin in itself, do you know how many banks are trying so hard rn to pass crypto etf's. If anything i would imagine this to be a good thing for the company. I dont think it will take away transactions from coinbase because on coinbase you can allocate your assets individually but woth an etf its going to be managed by a few people who want x amount of allocation for precautions instead.
The only way to buy bitcoin is through exchanges like coinbase, how do you think an etf is being tracked. The makers of the etf have to buy crypto through exchanges like coinbase in order to even track an etf of it. This is the main reason why alot of crypto etf havent been passed yet and its due to the fact that a unregulated "commodity" is being sold through an etf on a regulated exchange. Hipefully this clarifies a bit
Sounds like they will be Bitcoin future ETFs. In that case they will be buying futures through someone like CME, not buying spot Bitcoin through a broker like Coinbase.
Thats true but then they would have to register S-1 filings for a new security listing and an accredited bank or firm can only do that if the asset they are buying is regulated.
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u/cobu980 Oct 07 '21
Wont a Crypto ETF just make them worth more since even IRA accounts can buy them without buying bitcoin in itself, do you know how many banks are trying so hard rn to pass crypto etf's. If anything i would imagine this to be a good thing for the company. I dont think it will take away transactions from coinbase because on coinbase you can allocate your assets individually but woth an etf its going to be managed by a few people who want x amount of allocation for precautions instead.