ETFs are offered by brokers and brokers always rehypothecate assets. That means for every 1 bitcoin, they'll create 100, or 200, or 300 paper bitcoins that they sell on the ETF market.
One of the appeals of Bitcoin as a store of value is that its supply is capped. An ETF would disrupt that, and possibly drive the price down (you could almost say it's an attack vector).
So, my question is, why is everyone seemingly clamoring for this? What am I missing?
[link] [comments]
No comments:
Post a Comment