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0 sats \ 0 replies \ @0xIlmari 11 Jan \ on: Bitcoin Spot ETFs will not be convertible to Bitcoin for fiat currency only. bitcoin
I mean, obviously, duh. Commodity ETFs aren't ever normally convertible to the underlying, be it Bitcoin, gold, corn or natural gas. There may be a third party offering such a service.
That being said, I think the backing coins will be there, but CoinBase might initially be opaque in publishing a proof of reserves.