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AFAICT, a 5% APR (annual percentage rate) loan at 25% LTV (loan-to-value ratio) means:
  • If you put up $100k of your bitcoin ETFs up as collateral, you can borrow up to $25k with an annual interest rate of 5%.
(Putting your ETFs up as collateral means that if you fail to repay your loan, they confiscate your ETF shares)
You can borrow 75k
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That would make it 75% LTV, no?
5% APR 75% LTV is actually really good, almost like a mortgage.
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