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RE: ETFs on the Horizon - Gold all over again?
I am not sure if ETFs will influence the rates. Those still has to be backed up by actual bitcoins? So financial institution who'll be selling ETFs has to purchase BTC prior to that, right? And all big guys are buying of the counter - so we can't really see such price movements that we've witnessed in December. Just a thought...
the idea would be that the fund would be purchasing massive amounts of crypto, the papers (stocks) would be used to secure more assets for the stock holders as they go up in value. In other words, the people purchasing the crypto would not be the same who are buying the stock, but the managers of the funds. And they would use the liquidity of their asset, the ETF shares, to purchase crypto.
That's what i was saying - there would be a specific amount of crypto purchased by a very reach people who are buying off the counter - so the order wouldn't be shown on any exchange - therefore there's no reason for prise decrease/increase