New Bitcoin all time high today

[sinewave3]

Crypto ETF's are a cool idea just for investing as you don't hold the actual crypto, the fund does. Most brokerage apps like E-Trade or Ameritrade will most likely carry this ETF soon.

I was initially excited for this new ETF, but after reading it holds zero bitcoin but actually 85% futures and 3-9% monthly fees to roll those futures over, my expectations diminished.

Will this suck up legitimate money that would have gone into actual bitcoin? Is that the SECs plan?

 

[MindlessWork]

I was initially excited for this new ETF, but after reading it holds zero bitcoin but actually 85% futures and 3-9% monthly fees to roll those futures over, my expectations diminished.

Will this suck up legitimate money that would have gone into actual bitcoin? Is that the SECs plan?

To me if this ETF is only holding futures contracts and not actual crypto that does raise some sort of red flag with me.

Think the SEC is frowning on any ETF or mutual fund that holds actual crypto...

 

[Millard]

 

[pigeonhed]

I was initially excited for this new ETF, but after reading it holds zero bitcoin but actually 85% futures and 3-9% monthly fees to roll those futures over, my expectations diminished.

Will this suck up legitimate money that would have gone into actual bitcoin? Is that the SECs plan?

The reason you will first see Bitcoin ETF futures is Bitcoin Futures had already been traded on the CME (Chicago Mercantile Exchange). Since it had traded for four full years (16 quarters) it was eligible to be overseen by the CFTC (Commodity Futures Trading Commission).

Basically SEC decided we will use the oversight and data from the CME and allow the CFTC to be the regulating body of the trades. SEC investigations and authority will be provided through CFTC.

I would imagine if this goes well you will see actual BTC ETFs. More aggressive investors will always prefer the futures as you would have far more volatility which generally equals profit for an investing fund.

Good stuff and more trading options coming. Excellent news for BTC even if it may seem like a slow adoption it is happening.

 

[MindlessWork]

Nearly $66k now for BTC...it's on a roll and hopefully there be no shocks to send it crashing back down...

 

[Aftermath9716]

Govt no doubt is going to try and stop it, US govt won't allow free market currency to take over if it means losing control especially since it's the current global reserve currency. It will take foreign trading partners to allow global adoption.

 

[pigeonhed]

More adoption. The "backend" of the investing and banking markets are what will drive BTC. This is more rather large news, adoption of the BTC as transition based holding are crucial.

Mastercard and Cypto

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[Perrin Aybara]

Almost 68k