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220 sats \ 3 replies \ @fiatbad 22 Jul \ on: What bitcoin ETFs are best? bitcoin
The two most important things to look for:
  1. 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.
  2. 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.
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0 sats \ 0 replies \ @denlillaapan 23 Jul
They also kick back some of the fees to developer funding, no?
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0 sats \ 1 reply \ @satgoob OP 22 Jul
Awesome - this is what I was looking for. Thank you
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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.
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