Grayscale owners could see a double benefit, and Coinbase would get a shot in the arm https://www.wsj.com/articles/bitcoi...rock-etf-is-approved-2cb3002?mod=hp_lead_pos5
Once this ETF gets approved it's game over. In fact I think it's safe to say that it's already game over, we've won. It took us a long time to get to where we are today. And to everyone that hodled through that monstrocity you have my upmost respect. Gary gensler tried to be too greedy and too aggressive, and all he did was advertise crypto and how useless and defenseless he is against it, which made the markets even more bullish than they already were. This is what investing is all about, big risks and big rewards, even when everyone says you're crazy for holding. Eyes on the prize people! Eyes on the prize... I'll see you guys at the finish line....
The irony though, is there are dozens of Bitcoin ETFs on the Toronto Stock Exchange. No need to wait for the backwards Americans to finally get around to issuing one this century. Just look how long the world has been waiting for them to catch up to something as simple and basic as the metric system Some nations really can be stubborn.
Both BITO in the US and BTCC in Canada have outperformed the underlying BTC over the lst couple of years. Once you have ETFs okayed in the US the wall street giants will be able to manipulate the market. Good for traders not so much for the HODL crowd.
Do you think the giants all work together and trade with each other or conflict one another so it makes no difference?
They all go to the same schools, learn the same thing, belong to the same organizations and have the same goal in view. Whether it is equities or crypto the goal is to accumulate, mark up, and distribute. Rince and repeat.
Sounds like you didnt understand my question. Are all the wall street giants trading as a group together or are they all against one another trying to manipulate each other? And another thing you fail to realize is that the market was already manipulated way before they even knew what Bitcoin was....
I don't know. Probably both if it results in them making money, the ultimate goal. All the more reason to trade rather than HODL.
Note that 10/20/2021 is the first date reported by Yahoo and Barchart.com. BITO (ETF) from 10/20/2021 to 6/22/2023: return of -56.98% (including dividends) BTC (underlying) from 10/20/2021 to 6/22/2023: return of -54.39% HODL outperformed U.S. ETF.