I don’t think etfs are creating paper bitcoin but I do think coinbase is. I suspect if there was a run on coinbase they wouldn’t have the Bitcoin they claim to hold to fulfill it.
You mean their trusted custodian?😀💯 agree
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I wonder if these instances of coinbase seemingly always going down when Bitcoin is rallying aggressively has more to do with their risk modelling than the volume. They probably have a threshold of how much bitcoin liabilities they can have compared to their assets and when it is ripping and people are buying like crazy it triggers something and slows down exchange.
There’s a conspiracy theory for you.
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