0 sats \ 2 replies \ @Catcher 6 Jun \ parent \ on: How much bitcoin owned by ETFs is too much? bitcoin
Well, you cannot rug the ETF holders as they don't have any bitcoin to rug to, So in my head it plays like that - companies are hoarding BTC using the customer's money and when the customer sells they don't. So they end up with a lot of BTC that nobody can withdraw. I'm just wondering if they can somehow hide it in the reports.
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10 sats \ 1 reply \ @DiedOnTitan 6 Jun
when the customer sells they don't
That's not how it played out with GBTC. So much cash left when the ETFs opened, that they had to sell 300,000 Bitcoin to cover.
https://m.stacker.news/34235
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0 sats \ 0 replies \ @Catcher 6 Jun
Right, I agree, but I won't be surprised if in the future blackrock will come up with the solution that will allow them to keep all the BTC fromn the ETF. At the end of the day, if you understand the game then you will try to get as much BTC as possible.
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