/biz/ - Business & Finance

File: 10 KB, 225x225, bobo bear meme.jpg [View same] [iqdb] [saucenao] [google]

Anonymous Sat Jun 27 04:01:56 2020 No.19968208 [Reply] [Original]

> Boomer here

Looking at people making so much money here from crypto coins. Why is there not an ETF for crypto yet? Have 10,000 $ for investment!

>>	Anonymous Sat Jun 27 04:03:06 2020 No.19968215 >>19968208 get fucked boomer I made $3.5k in the last 4 days by just risking $10k

>>	Anonymous Sat Jun 27 04:11:12 2020 No.19968272 Soon

>>	Anonymous Sat Jun 27 04:12:29 2020 No.19968279 >>19968208 shrt BTC to like 5k. 100x leverage. bye

>>	Anonymous Sat Jun 27 04:13:17 2020 No.19968285 >>19968208 There are ETFs for blockchain, not crypto. Google. All crypto ETFs would become worthless over the course of a few days lol. Unless they were 50%+ invested in BTC.

>>	Anonymous Sat Jun 27 04:13:20 2020 No.19968288 File: 24 KB, 700x600, 7bwcl-720.png [View same] [iqdb] [saucenao] [google] >>19968208 It is called ETH

>>	Anonymous Sat Jun 27 04:14:43 2020 No.19968303 >>19968208 >crypto coins a boomer and a pajeet, surely. Buy a toilet with your 10k.

>>	Anonymous Sat Jun 27 04:17:48 2020 No.19968332 >>19968288 unironically this boomers buy ETH at a huge premium from greyscale so they can have it as part of their IRA, look it up

Anonymous Sat Jun 27 04:24:01 2020 No.19968385

>>19968208
Because ETFs are composed of securities that are tied to assets which have some real world guarantees, and cashflow in some way. Like stocks in companies with revenues and physical assets that can be liquidated in case they go tits up.
Crypto is just a scam.

No serious financial institution wants to provide an ETF where half the holdings will turn out to be an exit scam in less than a year, and the other half will stay flat or disappear once people finally take the redpill and stop buying Chuck E. Cheese internet tolkens.

>>	Anonymous Sat Jun 27 05:11:32 2020 No.19968748 >>19968208 there is an etf buddy. one is called Statera STA and one is called STONK. there are threads for them. you're early

>>	Anonymous Sat Jun 27 05:20:13 2020 No.19968815 >>19968208 There already is one. Go on lemonparty.org for information about it

>>	Anonymous Sat Jun 27 06:37:35 2020 No.19969358 >>19968208 A guy put 100k into the Statera Fund and gained 14k in less than a month. Make with that information what you will.

Bengali Apostate Sat Jun 27 08:09:36 2020 No.19970091

>>19968332
>unironically this
>boomers buy ETH at a huge premium from greyscale so they can have it as part of their IRA, look it up

What level of stupid do you have to be to buy something at a 700% markup when you can already buy it for almost 0 fees on other exchanges?

>>	Anonymous Sat Jun 27 08:11:09 2020 No.19970104 >>19968208 GBTC functions very similarly to an ETF, management fees are higher, anout the only difference for a retail trader. 2% of AUM per year

Anonymous Sat Jun 27 08:16:52 2020 No.19970161

>>19968208
In order to have an ETF, you need an honest "price" and fair market for the underlying.

In the eyes of the SEC, the Bitcoin market is still too fraudulent.

https://www.coindesk.com/sec-rejects-bitwises-latest-bitcoin-etf-proposal

“The Commission is disapproving this proposed rule change because, as discussed below, NYSE Arca has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act Section 6(b)(5), and, in particular, the requirement that the rules of a national securities exchange be ‘designed to prevent fraudulent and manipulative acts and practices.'”

THe funny thing is is that the CFTC has approved the btc futures, which require a reference price (which can be manipulated). But the CFTC and the SEC are different agencies. Apparently the CFTC has lower standards of "manipulation" than the SEC does.

>>	Anonymous Sat Jun 27 08:17:50 2020 No.19970174 File: 98 KB, 768x1024, 1520989756569.jpg [View same] [iqdb] [saucenao] [google] >>19968815 no it's actually meatspin.site

>>	Anonymous Sat Jun 27 08:18:03 2020 No.19970178 >>19970091 its because its IRA money. You cant take out IRA money and put it into an exchange without having to pay taxes on it, thus defeating the purpose of the IRA.

>>	Anonymous Sat Jun 27 08:19:20 2020 No.19970188 There’s no etf because all of crypto is too intertwined. When btc goes down everything goes down. So it’s just better to have btc at that point

>>	Anonymous Sat Jun 27 08:27:34 2020 No.19970257 >>19970178 you can if you open up a self-direct ira

>>	Anonymous Sat Jun 27 09:14:46 2020 No.19970722 >>19970257 no you cant... There is no brokerage firm that will allow you to leave their sandbox and move your money into a crypto exchange. Like seriously, where the fuck do you get this idea? It's just completely wrong.

>>	Anonymous Sat Jun 27 09:17:34 2020 No.19970752 >>19970174 Oh I am not sure OP is ready for such esoteric knowledge! But if you're eager to learn this is a goldmine

Advanced search
Text to find
Subject [?]Search by post subject. Leave empty for any.
Username [?]Search for user name. Leave empty for any user name.
Tripcode [?]Search for tripcode. Leave empty for any.
Email [?]Search by email. Leave empty for any.
Filename [?]Search by image filename. Leave empty for any.
From Date [?]Enter what date to start searching from. Format is YYYY-MM-DD
To Date [?]Enter what date to start searching until. Format is YYYY-MM-DD
Image hash
Search in	All Posts OPs Only
Deleted posts	Show all posts Show only deleted posts Only show non-deleted posts
Internal posts	Show all posts Show only internal posts Show only archived posts
Order	New posts first Old posts first
Capcode	All Posts Only by Users Only by Mods Only by Admins Only by Developers
Results	Posts Threads
Action	[ Simple ]