/biz/ - Business & Finance

>>50082759
This is a good thing.

Why the FUCK would you want a Bitcoin ETF? That just takes money away from Bitcoin and lines the pockets of old money institutions effectively selling "paper" bitcoin to boomer investors.

bitcoin is fake news

>>50082759
Idk but they need to get gassed

>>50083001
Afaik there’s already paper bitcoin etfs. They’re specifically rejecting spot etfs, which would require actual bitcoin to be bought.

>>50082759
Haven't they been rejecting these? I think they've rejected quite a few already, this isn't anything new. Business as usual

>>50083001
This is in the case of a futures backed ETF, not a spot backed ETF

>>50082759
They don't feel like getting called into an annoying ass congressional hearing when it inevitably blows up on normies.

>>50083104
No, a spot backed ETF is still the same as paper bitcoin.

>>50082759
> spot BTC ETF rejected
> inverse BTC ETF accepted
Based

>>50083138
Lmao seriously. SEC is corrupt as fuck.

>>50083138
The inverse use futures as underlying

>>50083124
Why

>>50083207
SEC consists of crypto bears

>>50083205
Understood. Still it exists before a basic BTC index fund was established.

>>50083207
Same reason GLD is paper gold.

>>50083124
Eh, technically, but heavily regulated and reserves are audited so counter party risk is minimal.

>>50083396
Goes against everything Bitcoin and crypto stand for.

>>50083651
It's just a derivative. If there is a gold derivative, why can't someone have a BTC (digital gold) derivative.

>>50082759
Hope u all realize if this id approved they're going to short us with institutional grade capital so be careful what you wish for

Why do *they* keep rejecting all the Spot ETFs while they approved 2 Futures ETFs without thinking twice?

>>50084765
Yes. It’s all about dumping their bags on retail. Take a look at BITO kek. Funny how the SEC approved that one.

>>50083001
Yeah except there's BTC futures all over. At least with a spot ETF, there'd be some necessary buying pressure to back it up... The SEC is supposed to protect investors and yet allows this degeneracy over a spot ETF fund. Can you explain how it makes sense? I can't.

>>50082759

>>50084802
BITI is the new short BTC ETF that was just approved, funny Gary Gensler has no problem with that one

>>50082759
jews

>>50083001
a spot etf is backed 1:1 by bitcoin dumbass. You're talking about bitcoin future ETFs and they exist for precisely the reasons you mention.

>>50086580
that's because he wants you dead, broke, and your kid's raped and brainwashed

>>50083396
LOL

You are the dumbest gorilla nigger.

>>50085039
that's some pretty terrible reasoning

They are only delaying a spot ETF before their man Sam the Jew (not the gay one at Alameda) gets a solid hold on the market so they can sink their tentacles into this asset class with an asymmetric advantage over anyone not part of the club. USDC plays a big role too, just look at Tim Draper's background.