WILL ETF BOOST BITCOIN IN THE LONG RUN?
Since 2017 I have heard quite a few companies in the US trying to get an ETF from the ground for Bitcoin. Since then they have been rejected. Our neighbor We the north embraced it and finally delivered to their promise last month through Purpose investment. Since then couple others has come forward to get more bitcoin ETF in the market. This is a plus for the bitcoin community going forward. We need more ETF in the market very soon.
I am talking about Canada, not the US. What is an ETF? It stand for Exchanged traded funds You can compare it to some extent Mutual Funds. They carry most of the same key aspects. The fees are lower and easier to manage. My interest is toward the bitcoin ETF the company Purpose started to trade in Canada.
I can see it on the US exchange under the ticker #btcc.U but I cannot trade it for now.
I guess I do not have access to international trade service. What make this, something
worth understanding is the fact crypto like Bitcoin is allowed to be converted as ETF.
What We have in the US, is through Grayscale Bitcoin fund that look similar, but from far away as
ETF. Grayscale bitcoin fund is trading at a premium compare to regular ETF.
ETF is a big plus for crypto in the market. I call it a stability point for the ones that wish to go that route. It applies for funds diversification. Everything you see on that picture is making ETF very attractive. Apart from trading it on regular market it does not go with someone deep in the crypto world. If you care to dissect crypto and make sense of this technology you can use it like I said to diversify.
Since ETF is traded on the market you cannot have access to your funds 24/7. If Bitcoin is throwing a curve on weekend, you have to wait on Monday to react. You have to pay a fee for the Purpose to hold your Bitcoin ETF. It is nothing short term but compound long term could eat your profit.
Not everyone will go the ETF route. But I would like to see ETF taking over cause it is a lot
easier to get folks add it on their portfolio long term. This is why eventually ETF should come in the US.
Canada is a step ahead with it and so far Purpose Investments already had $1 billion in AUM.
More Btc swallows by ETF will rise the price in the market.
Understanding ETF and soon you will comprehend the integration of crypto in the lives of every financier of the world. You may not go the route of ETF. You might want to hold your bitcoin personally and this is a great asset you can use for a case as #defi. Sooner or later Bitcoin will be so important where holding it could be Golden
Most Lions will prefer to control their bitcoins to get the best return possible. Have you seen the possibility you can have with the Dens through #cubdefi with #btcb? I have used it and so far it is performing quite well. Having ETF in the US will propel the value for you and me. I can't wait to see an ETF with value of $10 billion dollar of BTC.
The right thing to do, find ways to invest with crypto. IF you are in Hive, Leofinance this is a great entry to learn and get used to having your own custody of your keys. Read and stay informed. Have you tried #cubdefi yet? This is one project that can enlighten your desire to grow in crypto. Keep stacking satoshis.
Posted Using LeoFinance Beta
