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5 sats \ 4 replies \ @nerd2ninja 3 Jul 2023 \ on: MicroStrategy IS the Bitcoin Spot ETF bitcoin
How do you withdraw Bitcoin from MicroStrategy shares?
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0 sats \ 3 replies \ @legxxi OP 3 Jul 2023
Do you think you'll be able to withdraw Bitcoin from BlackRock's ETF?
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0 sats \ 2 replies \ @nerd2ninja 3 Jul 2023
Not necessarily, which makes it complete trash. That buying something without delivery is a thing is trash straight out, but there is precedence for it:
If you buy gold ETFs, you can get physical delivery of gold
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50 sats \ 1 reply \ @legxxi OP 3 Jul 2023
I'm guessing that delivery of gold is subject to availability or some other funky story though. And also that those fund managers know not everyone will be retrieving their gold at the same time, so they run something akin fractional reserve banking but with the asset?
Anything paper is not possession.
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21 sats \ 0 replies \ @nerd2ninja 3 Jul 2023
True. So, its trash either way.
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