Mini ETF for BTC lovers. A great news for Crypto Trader.
Hi Everyone, I hope you are doing great. As we all know the current market is facing huge price deep due to Exchange Traded Fund (ETF) and other reason and as we know the ETF decision is postponed to 30 Sept in this situation we become frustrated with our crypto assets values then this is a good news for you. Before moving to the main news I would like to ask you ETF is important?
Because after the decision of ETF US investor can buy Bitcoin with fiat currency and we know US investors are very important for increasing Market price.
Yesterday, Thomas Lee, Co-founder Fundstrat Global, announced a new way Exchange Traded Note (ETN) to buy Bitcoin without actually buying bitcoin which is similar to ETF or we can also say it is mini ETF. So, how these things gonna happen as we know many US investor trade in the foreign market and they like to see the price in USD, these all things are done by and they create a ticker of 5 letter which have last letter 'F' and here for BTC they created CXBTF. The investor who buy these shares in return they will provide a certificate and as the price of that share will increase the price of BTC will also increase.
Source: https://twitter.com/fundstrat
This post has received a 3.13 % upvote from @drotto thanks to: @amar15.
Thanks for the information
Welcome @simonjoy :-)
Really awesome post I like it
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Thank you @arslannasir9090
Good try to explain ETF. I don't have much idea about ETF.
Thanks @rosy1606 :-)
It is a way so that us trader can buy crypto assets with their fiat currency.
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Interesting, you know Sweden is also now offering a Bitcoin Backed token on their exchange.
That's really great.
Thank you @embomb :-)
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