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SPOT ETF is happening, only NOT today (Patreon)

Published:
2023-11-17 18:06:33
Imported:
2023-11
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Content

The SEC is discussing with stock exchanges the possibility of introducing a "spot bitcoin ETF" that would be directly tied to the current price of Bitcoin. To avoid complications with broker-dealers, the SEC suggests using cash for investments instead of exchanging it with Bitcoin or other assets. While this may require some adjustments for companies planning to create these ETFs, it indicates progress towards a potential SEC approval.

Basically - they are preparing the groundwork to make it happen. 

It is happening. Just do not know when. Prob Jan 2024. 

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Comments

Anonymous

This link will help … they could still blow up trying to do these old tricks…… and it would be refreshing to see BTC burn the hands that try this https://x.com/gregzaj1/status/1725615342779576703?s=46&t=qNKA9ySFQ1y92h3Ld3FUOw

Anonymous

Several people I know worry about this, including myself. Its likely ignorance on our part, but does this mean that the SPOT BTC ETF would not be backing the ETF with BTC? For example, if I put $100 into the Blackrock SPOT BTC ETF my understanding is they would have to buy and hold BTC to correspond with that $100. Does "using cash for investments instead of exchanging it with Bitcoin" mean this is no longer correct?

Anonymous
>>122597701

That is what it sounds like to me, too. It is hard for me to think this is going to be good for individual investors in crypto. Hope they can't control crypto like they have gold and other markets. But, maybe I am wrong!