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93 sats \ 4 replies \ @gmd 8 Apr \ on: World’s Largest Gold ETF Holdings Down 5% Since Bitcoin ETF Launch charts_and_numbers
So their holdings are going down even though the price of Gold is going up?
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99 sats \ 2 replies \ @m00ninite 8 Apr
This kinda makes sense. People like gold as a stabilizer, right? If the price goes up, they'll want to rebalance
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229 sats \ 1 reply \ @freetx 8 Apr
In all probability yours is the right explanation. However it also occurs to me that I wonder if the competition against BTC ETFs is putting pressure on the GLD issuers to play less rehypothecation games. I notice that both Silver and Gold has been on a tear since Jan.
Perhaps they realize that GLD needs to compete.
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99 sats \ 0 replies \ @kr OP 8 Apr
there is also a bit of fee pressure, some of the btc etfs have fees of 0.2% while gld is 0.4%
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99 sats \ 0 replies \ @kr OP 8 Apr
yup, exactly
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