I have the feeling that through all these ETFs, a new or different audience is getting involved, which may not be beneficial for the Bitcoin space. What do you think?
yes42.9%
no57.1%
14 votes \ poll ended
10 sats \ 0 replies \ @harrr 30 Dec 2023
Bitcoin doesn't care about ETFs.
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1 sat \ 0 replies \ @grayruby 30 Dec 2023
It's interesting that the result is 50/50 because in reality the answer is probably yes and no. They are good for bringing more people, institutions into bitcoin and for making it more difficult for anti-bitcoin politicians to invoke severely onerous regulation. That being said they are bad for centralization, self custody and give the US gov a pathway to exert influence over a meaningful portion of the bitcoin supply.
I think they will be a net benefit initially but if they become very popular and a large portion of Bitcoin supply is held by ETF funds it will be long term negative.
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0 sats \ 0 replies \ @TheBTCManual 31 Dec 2023
Its good for these companies who can charge fees on bitcoin and generate a new income stream, it might be good for the price in fiat but other than that, I don't see how it benefits the Bitcoin space, as people open them up to confiscation and rugging and complacency which is the problem of those individuals
Nothing is without a trade off
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0 sats \ 0 replies \ @notgeld 30 Dec 2023
European products allow redeeming in species but SEC crippled USA ETF. To me it is hard to foresee if they will have any demand with cash only settlement. They could try to outcompete miner stocks or MSTR with lower fees but in fact stocks have 0 fees. USA ETF is a weird product even from the "different audience" point of view.
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