This is absolutely huge.
There is an absolute mountain of money allocated to these ETFs, if even 1% of it is allocated to Bitcoin the results are just so ridiculous it's hard to think about. This bull market could be absolutely insane.
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Yup. Melting faces huge!
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bitcoin is starting to show its real face. just a pump and dump fueled by fomo?
Post halving in a couple months hashrate is probably going to decrease significantly, which will set the trend for the following halvings and it is no longer defensible for bitcoin to have a trillion dollar market cap it seems. The people who "invest" now have no idea about this and those who do are going to sell soon :)
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You think people are investing in btc as a function of its hash rate?
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Yes. The most decentralized computer network in the world getting even stronger. Um yes please. More unstoppable
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This is for the Canadian fidelity ETF, which is not huge. A couple hundred million or so.
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This is a start. I consider it a pilot. It will expand
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Fidelity investments has been most aggressive over Bitcoin among all the ETF issuers. I sniff that they are the only one who really want that the Price of Bitcoin must soar higher and higher
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And they’ve been Bitcoin mining for years and self custody it.
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Only a decade, lol. They have been mining since 2014! They get it. The wallstreet journal is one source, but just google Fidelity Bitcoin Mining. https://www.wsj.com/finance/currencies/the-fidelity-mafia-behind-big-crypto-953ad00e
$168M in net assets, so $1.68M worth of Bitcoin in their ETF. Not huge, but interesting. I trust you all will take this in stride.
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Yup a start on the industry by a big leader. Once it outperforms it will grow like a virus
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51 sats \ 3 replies \ @Wumbo 7 Feb
Is this a part of Canadian Fidelity only or is there a US exchange version?
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24 sats \ 0 replies \ @kr 8 Feb
yes, looks like it’s just Canada for now but i suspect America will start too
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In the link it says:
Fidelity has a 1-3% bitcoin allocation in their "All-in-One" asset allocation funds in Canada, using spot bitcoin ETFs.
I think this "All-in-One Conservative ETF" is on Canada stock exchange (CBOE)
Thanks for Sharing
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32 sats \ 1 reply \ @jeff 8 Feb
Suddenly indeed.
Now, when they advertise the fund performance, a fund that is 99% equities + 1% BTC, will be compared against a competitor's 100% equity fund.
Tick tock, next block.
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Yup this! The clock starts and right before the halving!!!
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And we're still at $40k. It's a gift to sell dollars today and buy more sats
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We WERE at $40k. How soon we’ve gone over $50k!
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Just enjoy the moment. Paper hands still exist and dollar still costs 2k sats
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but but but
grampa said bitcoin bad
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Paper Bitcoin is bad. The pure stuff in cold storage is where it’s at!
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Paper Wallet > Paper Bitcoin
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Interesting. I don't think I have access to that in my retirement options, but I'm keeping my eyes for a fund that has bitcoin (and nothing that would make me still not invest).
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I need to move my retirement savings to fidelity
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Mine is there, great products that are getting better with Bitcoin exposure!
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stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.
stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.
21 sats \ 0 replies \ @rando 8 Feb
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