I'm thinking about moving some IRA into BTC through an ETF. Hard to tell the difference between the ETFs and find it odd that their returns differ a bit --- is there consensus on the best option?
pull down to refresh
0 new comment
220 sats \ 3 replies \ @fiatbad 22 Jul
The two most important things to look for:
-
Does the ETF offer proof-of-reserves in a trustless manner? In other words, do they publish their public addresses so that anyone running a node can verify they have the funds they say they have? I think only the Bitwise ETF does this, which is why I buy it.
-
Do they custody their own funds, or outsource to the scammers at Coinbase? BlockFi was a decent company on its own. They collapsed because they trusted another company to custody all their assets, and that other company went under (3-Arrows and others, via FTX). Fidelity does self custody of their own Bitcoin, which is why I buy it.
I only own these 2 funds for the reasons I listed above. Fuck any ETF that custody's with Coinbase.
And it's about time Bitcoiners DEMAND proof-of-reserves. It seems like an afterthought to people these days.
reply
0 new comment
0 sats \ 0 replies \ @denlillaapan 23 Jul
They also kick back some of the fees to developer funding, no?
reply
0 new comment
0 sats \ 1 reply \ @satgoob OP 22 Jul
Awesome - this is what I was looking for. Thank you
reply
0 new comment
0 sats \ 0 replies \ @fiatbad 22 Jul
Bitwise also donates some of their ETF profits to Bitcoin open-source developers. Which is another huge thing for me, which I forgot to mention in my post above.
reply
0 new comment
30 sats \ 0 replies \ @siggy47 22 Jul
That's like asking which type of anal fissure you would prefer.
reply
0 new comment
0 sats \ 0 replies \ @LibertasBR 22 Jul
Bitcoin ETF is anything but Bitcoin. Just hold Bitcoin — ETF is shit.
reply
0 new comment
0 sats \ 0 replies \ @byzantine 22 Jul
my advice is use unchained IRA where you hold the keys directly. if you can't do that because you are still employed and can't transfer the funds for whatever reason then hold etfs across different custodians. "HODL" -by vaneck uses gemini, "FBTC"-by fidelity uses their own, ARKB uses coinbase and bitgo, BITB-by bitwise uses coinbase and offers proof of reserves
reply
0 new comment
0 sats \ 1 reply \ @Maximux 22 Jul
I don't have a Bitcoin ETF. However, I've read about it (I'm interested in anything related to BTC), and my opinion is that the best Bitcoin ETF is one that actually buys BTC every time someone buys an ETF. The important thing is that each ETF purchase corresponds to a real BTC purchase.
reply
0 new comment
0 sats \ 0 replies \ @bitcoingecko 23 Jul
Do you know which ones these are?
reply
0 new comment