Anyone else have a bag of GBTC in an IRA? Saw a nice pop in its price... but the fee 1.5% is exorbitant compared to the other ETFs... should you HODL, or slowly trade out to other ETFs? What will happen if there's massive outflows?
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I had some GBTC in an IRA and sold it all this morning and moved it all into Bitwise ($BITB). Lowest fee and contributing 10% of their profit to open source bitcoin development.
view on x.comNoble. I kind of want to go with HODL because they have the coolest ticker name ever.
BRRR is pretty good too.
this is my fav ticker by far 💪
Maybe but a little of both... seems like there's no reason not to spread out the central party risk? Although they might all be held by coinbase...
mostly coinbase, but not all
https://m.stacker.news/11829
Nice, thanks! Seems like 1/3 Van Eck, Fidelity and anything else would be a good split.
yes and if you own MSTR then you already have coinbase exposure
I added a small position of BITB to my retirement account today for this reason.
This is the way
I plan to start slowly swapping it out for Fidelity's FBTC once things stabilize.
Agreed, at least you have a chance to beat SP500... and after halving, who knows...! One can't touch it until the ripe age of 65 or whatever the age is now (105?...lol) but still better than "stonks" methinks... Hate to say it that is "safer" because in that world nothing is, but your chances are better to keep it in FBTC than Apple or whatever, plus one gets that small kick from the employer... Lesser of two evils I guess. YMMV as always.
I had a few bags in a few of my Roth's that I liquidated last week. Bought up some FBTC this morning with them. I'll just leave them be for the next decade or two and see what happens. Instead of retiring to a cardboard box behind the liquor store, maybe I can upgrade to a cardboard box behind a Goodwill.
That's a taxable event though, no? Or your "hopes" calculated that in?
Roth is tax paid up front then no tax on gains
59.5 years
bet all on paper bitcoin.. what can go wrong
DISCLAIMER: This in NOT financial advice :p
I'm not an American but to my understanding they are kinda screwed because you can't easily get the money out of these accounts like rothIRA, 401k etc. So it's either that or stocks/etfs/bonds
This is the correct take. Every single person on this forum knows that holding their own keys is preferable to the ETF. But most of us have capital that cannot be used to purchase BTC directly (pensions, tax sheltered accounts, blah blah). So what do you do with that capital?
Fact is that I'd waaaaaay prefer to hold one of the ETFs than anything else in trad-fi.
Well, most of you americans. In my country there is no such thing as a roth or 401k.
lol yes I say this as a cuck from the UK, we don't get anything :[
Too many socialist politicians and Muslim mayors
Koran prohibits banking and interest.
No wonder Islam relies on oil and banditry
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I agree that rapid Islamification presents a significant challenge to the UK. But since of the 25 directly elected mayors I think 2 are Muslim…. I don’t think there’s any connection to reality OR Bitcoin policy.
It's not hard to get the money out but there are taxes and penalties so it may not make financial sense. The beauty of Bitcoin is it can exist outside this system and that may make the cost worth it.
😂
Go for one that will be donating funds to Bitcoin development (BITB/HODL) or are self custody (FBTC). Or both, to spread risk
I have the same questions…
Also, if we're in a tax-advantaged account- which ETF are we migrating to for the lowest fees? Didn't Cathy woods suggest no fees for the first something or another months or AUM?
BITB has lowest fees
It’s not only fees. The biggest factor is inflow and assets under management
I think 🤔 I could be wrong
You are concerned about the spread of BITB? How often do you buy and sell it?
The spread between nav and premium?
I don’t trade BITB
GBTC volume is huge today. I expect many are selling or swapping.
https://m.stacker.news/11815
Unchained has an IRA product that allows you to hold real btc. That is the way. Leave the paper bitcoin to the suits.
If they are not your keys, they are not your bitcoin. I don't like paper bitcoin.
Quite a few people made out like bandits buying last year with the discount to nav so swapping out to a cheaper ETF makes sense for them, as for the rest some will also move for the fees, others will look at the tax issues involved so I guess it finds its equilibrium eventually but for now its recycling paper bitcoin capital
i forget. i bought 3-4 this morning, and will just hodl for awhile.
Unchained.com/ira anyone?
Follow-up Summary: I ended up trading out all of my GBTC and going with 1/3 HODL, 1/3 BRRR and 1/3 FBTC - based on coolness of the ticker names and wanting to spread out custody risk (Gemini, Coinbase, Fidelity).
I have GBTC in my retirement