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RE: A Bitcoin ETF may be here sooner than we think
there is already an existing etf gbtc, the price of gbtcmay drop if there are some competitors
there is already an existing etf gbtc, the price of gbtcmay drop if there are some competitors
I think one hope with this ETF is that traders on the more public market (NYSE, etc) will be able to trade closer to the actual Bitcoin price in the short term. There was a time this year where GBTC was at a huge Premium (I believe upwards of 80%!) to the actual coin, which produces unpredictable results for short term traders. The ETF structure is often a very efficient way to lower discount/premiums, although using derivative products (futures) might also be unpredictable.