Lately there has been a lot of rumours and speculation on the SEC approving/postponing/rejecting ETFs for BTC...
and every time one of these votes comes by there is a lot of buying and selling going on, massive price swings as well.
As you can see below the next one is in two days. Does this mean that we need to expect another uptick in the price and then another major drop when it gets rejected?
The thought behind an ETF is to build up a stock of Bitcoins and to use those as a tradable asset on traditional markets (kind of like stocks)
For me the disadvantage of this is that you as an investor are not in charge of the private keys. You are only owner of some part of the fund.
I can understand that there is a certain difficulty when it comes to owning and managing private keys especially on an institutional level. But that is why multisig wallets and other tools exist.
I know it is easier to speculate on BTC course without having to have exchange accounts and wallets and key and such but you still do not own what you are trading??
Is that worth the trade off??
In this I share the view of Andreas Antonopoulis and he explains himself in this video and does it a lot better then I ever could
So for me it is not the super crypto solution that will moon the price, hence I am not that exited about an ETF even though lots of others are. I also know that they will be approved, if not sooner, then later. I also know that this will affect the price and I am not above using this to short/long this into some more BTC for myself but personally I will not be buying into any ETF as I have to compromise to much for that.