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?
355 sats \ 5 replies \ @spacewrangler 11 Jan
I plan to start slowly swapping it out for Fidelity's FBTC once things stabilize.
reply
258 sats \ 4 replies \ @JesseJames 11 Jan
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.
reply
74 sats \ 2 replies \ @Doo_Deux 11 Jan freebie
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.
reply
33 sats \ 1 reply \ @JesseJames 11 Jan
That's a taxable event though, no? Or your "hopes" calculated that in?
reply
32 sats \ 0 replies \ @gmd OP 11 Jan
Roth is tax paid up front then no tax on gains
reply
0 sats \ 0 replies \ @Bell_curve 5 May
59.5 years
reply
401 sats \ 9 replies \ @dk 11 Jan
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.
reply
116 sats \ 0 replies \ @grayruby 11 Jan
I added a small position of BITB to my retirement account today for this reason.
reply
54 sats \ 0 replies \ @_stacktoshi 11 Jan
This is the way
reply
41 sats \ 6 replies \ @gmd OP 11 Jan
Noble. I kind of want to go with HODL because they have the coolest ticker name ever.
reply
141 sats \ 5 replies \ @grayruby 11 Jan
BRRR is pretty good too.
reply
119 sats \ 4 replies \ @dk 11 Jan
this is my fav ticker by far 💪
reply
50 sats \ 3 replies \ @gmd OP 11 Jan
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...
reply
159 sats \ 2 replies \ @dk 11 Jan
mostly coinbase, but not all
https://m.stacker.news/11829
reply
21 sats \ 1 reply \ @gmd OP 11 Jan
Nice, thanks! Seems like 1/3 Van Eck, Fidelity and anything else would be a good split.
reply
140 sats \ 0 replies \ @byzantine 11 Jan
yes and if you own MSTR then you already have coinbase exposure
reply on another page
139 sats \ 0 replies \ @SATsStandard 11 Jan
https://m.stacker.news/11815
reply
190 sats \ 0 replies \ @030a29f333 11 Jan
Go for one that will be donating funds to Bitcoin development (BITB/HODL) or are self custody (FBTC). Or both, to spread risk
reply
99 sats \ 0 replies \ @TheBTCManual 12 Jan
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
reply
182 sats \ 0 replies \ @grayruby 11 Jan
GBTC volume is huge today. I expect many are selling or swapping.
reply
109 sats \ 0 replies \ @0245bdaef2 12 Jan
Unchained has an IRA product that allows you to hold real btc. That is the way. Leave the paper bitcoin to the suits.
reply
109 sats \ 10 replies \ @fm 11 Jan
bet all on paper bitcoin.. what can go wrong
DISCLAIMER: This in NOT financial advice :p
reply
169 sats \ 8 replies \ @tomlaies 11 Jan
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
reply
10 sats \ 0 replies \ @OriginalSize 14 Jan
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.
reply
109 sats \ 6 replies \ @orthwyrm 11 Jan
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.
reply
109 sats \ 5 replies \ @tomlaies 12 Jan
Well, most of you americans. In my country there is no such thing as a roth or 401k.
reply
109 sats \ 4 replies \ @orthwyrm 12 Jan
lol yes I say this as a cuck from the UK, we don't get anything :[
reply
0 sats \ 3 replies \ @Bell_curve 5 May
Too many socialist politicians and Muslim mayors
Koran prohibits banking and interest.
No wonder Islam relies on oil and banditry
reply
129 sats \ 2 replies \ @orthwyrm 6 May
deleted by author
reply
159 sats \ 1 reply \ @carlosfandango 6 May
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.
view replies
0 sats \ 0 replies \ @gmd OP 11 Jan
😂
reply
120 sats \ 7 replies \ @bitcoin_rationalist 11 Jan
I have the same questions…
reply
0 sats \ 6 replies \ @gmd OP 11 Jan
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?
reply
120 sats \ 5 replies \ @moneyball 12 Jan
BITB has lowest fees
reply
0 sats \ 4 replies \ @Bell_curve 5 May
It’s not only fees. The biggest factor is inflow and assets under management
I think 🤔
I could be wrong
reply
20 sats \ 3 replies \ @moneyball 5 May
You are concerned about the spread of BITB? How often do you buy and sell it?
reply
0 sats \ 2 replies \ @Bell_curve 5 May freebie
The spread between nav and premium?
I don’t trade BITB
66 sats \ 0 replies \ @GlobalThreat 12 Jan
i forget. i bought 3-4 this morning, and will just hodl for awhile.
reply
33 sats \ 0 replies \ @NOV 11 Jan freebie
Unchained.com/ira anyone?
reply
99 sats \ 0 replies \ @flat24 30 May
If they are not your keys, they are not your bitcoin. I don't like paper bitcoin.
reply
10 sats \ 0 replies \ @gmd OP 12 Jan
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).
reply
0 sats \ 0 replies \ @Bell_curve 5 May
I have GBTC in my retirement
reply