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RE: "These aren't the ETFs you're looking for"
I think the main reason prices are holding up is because whether the VanEck ETF gets approved or not, investors are starting to realize that it is only a matter of time before one does get approved.
I so much agree on this. If not this time it will be next one, such iterative process will eventually meet all SEC criteria.
We will always see hype amid an ETF decision, and I actually believe we would even see a dump after it gets approved. I don't think investors will jump day 1 to it, they will probably contact the ETF issuer, have some talks and so on.. it could takes weeks to see the big money flowing in.
Honestly I bet it happens almost immediately. There are so many people out there that would like a little exposure to bitcoin, but they don't trust the exchanges or holding the keys themselves. An ETF changes everything for them. There is a reason GBTC always trades at a 40%-70% premium.
I didn't know about GBTC, thanks for dropping that knowledge. I agree that there are many people hungry for that exposure, but given the amounts of money it would be poured into such ETF I don't know how fast it will be. Money loves speed and we can see it when they speak about an ETF, everybody goes to buy btc. Some people like it safe instead, some will consult, reconsult, then invest a little, then a little extra more...
The fastest the better for mass adoption, let's see how this plays out :)
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