What to do with GBTC? \ stacker news ~stocks

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5085 sats \ 45 comments \ @gmd 11 Jan stocks

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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355 sats \ 5 replies \ @spacewrangler 11 Jan

I plan to start slowly swapping it out for Fidelity's FBTC once things stabilize.

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.

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.

33 sats \ 1 reply \ @JesseJames 11 Jan

That's a taxable event though, no? Or your "hopes" calculated that in?

32 sats \ 0 replies \ @gmd OP 11 Jan

Roth is tax paid up front then no tax on gains

0 sats \ 0 replies \ @Bell_curve 5 May

59.5 years

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.

116 sats \ 0 replies \ @grayruby 11 Jan

I added a small position of BITB to my retirement account today for this reason.

54 sats \ 0 replies \ @_stacktoshi 11 Jan

This is the way

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.

141 sats \ 5 replies \ @grayruby 11 Jan

BRRR is pretty good too.

119 sats \ 4 replies \ @dk 11 Jan

this is my fav ticker by far 💪

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...

159 sats \ 2 replies \ @dk 11 Jan

mostly coinbase, but not all

https://m.stacker.news/11829

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.

140 sats \ 0 replies \ @byzantine 11 Jan

yes and if you own MSTR then you already have coinbase exposure

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139 sats \ 0 replies \ @SATsStandard 11 Jan

https://m.stacker.news/11815

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

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

182 sats \ 0 replies \ @grayruby 11 Jan

GBTC volume is huge today. I expect many are selling or swapping.

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.

109 sats \ 10 replies \ @fm 11 Jan

bet all on paper bitcoin.. what can go wrong

DISCLAIMER: This in NOT financial advice :p

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

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.

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.

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.

109 sats \ 4 replies \ @orthwyrm 12 Jan

lol yes I say this as a cuck from the UK, we don't get anything :[

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

129 sats \ 2 replies \ @orthwyrm 6 May

deleted by author

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.

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0 sats \ 0 replies \ @gmd OP 11 Jan

😂

120 sats \ 7 replies \ @bitcoin_rationalist 11 Jan

I have the same questions…

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?

120 sats \ 5 replies \ @moneyball 12 Jan

BITB has lowest fees

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

20 sats \ 3 replies \ @moneyball 5 May

You are concerned about the spread of BITB? How often do you buy and sell it?

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.

33 sats \ 0 replies \ @NOV 11 Jan freebie

Unchained.com/ira anyone?

99 sats \ 0 replies \ @flat24 30 May

If they are not your keys, they are not your bitcoin. I don't like paper bitcoin.

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).

0 sats \ 0 replies \ @Bell_curve 5 May

I have GBTC in my retirement