/biz/ - Business & Finance

>>57156718
>>Step 1: Approve BTC ETFs all around the world.
>Step 2: 'Advice' Investment funds, Pension funds and your mother to load up on BTC ETFs because anything else is already shit.

BTC ETFs have already been approved in the EU and Canada. Turns out nobody much cares.

https://www.worldcoinindex.com/news/europe-s-first-spot-bitcoin-etf-goes-live-for-trading-in-amsterdam
https://www.thestreet.com/etffocus/market-intelligence/bitcoin-etf-approved-canada

And here is some more sobering reading on the ETF thing:

>Even if the SEC is pressured to let through a bitcoin ETF, we still don’t think that just having a spot bitcoin ETF exist in the US is going to magic up fresh demand.

>Bitcoin ETFs already exist outside the US — and they noticeably haven’t unleashed any pent-up demand for bitcoins. (Though the Purpose Bitcoin ETF in Toronto seems to be what sent GBTC underwater.) US dollars are somewhat special, but we don’t think they’re that special.

>Investment firm Needham surveyed registered investment advisors and found that retail investor interest in crypto just wasn’t there — as Coinbase has already told us.

https://davidgerard.co.uk/blockchain/2023/12/22/bitcoin-etfs-coming-soon-but-in-cash-only/

TL;DR: the whole thing is waaaaaaaaaaaaay overhyped and will prove to be an epic nothingburger.

>>54886997

lol if crypto isn't permissionless then its just glorified fiat and there's no compelling reason to use it, might as well use PayPal at that point.

>>53358382
>can anon explain what "trustlessly buy into system" means

It means you can't independently mine your way into the ecoystem, you're left relying on the willingness of existing holders to sell to you.