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26 sats \ 0 replies \ @freetx 8 Mar \ parent \ on: 4% of The Entire Bitcoin Supply is Now Backing US Spot ETFs bitcoin
"in kind" funding and redemption was initially part of the proposal but was killed by SEC insistence.
However (a) change in administration will yield a different head of SEC, and (b) as enough people accumulate ETF-BTC there will become more pressure to allow "in kind" transactions....thus it seems pretty likely that eventually these ETFs become pretty good on-boarding mechanisms in the long-term.