TL;DR
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With ETFs, investors never actually own the asset, instead the fund custodies it for them — which comes with its own risks (uhhhhh hello FTX, Lehman Brothers, Silicon Valley Bank).
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Buying/storing a cryptocurrency with a middleman (centralized exchange) undermines the exact reason Bitcoin exists: Which is to allow anyone to participate in the global financial system, giving them complete ownership over their assets, investments and information.
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Giving investors the opportunity to purchase Bitcoin ETFs introduces them to the world of crypto, allowing them to dip their toes in, learn and eventually (hopefully) dive in head first.
Full Story
Have you heard the saying: humans are creatures of habit?
We had to look up who coined it…
(So you know for next trivia night: it was Stanley Hall in the 1870s).
We bring this up because this saying is the perfect encapsulation of why we like Bitcoin ETFs.
The concepts behind ETFs and Bitcoin are radically opposite.
With ETFs, investors never actually own the asset, instead the fund custodies it for them — which comes with its own risks (uhhhhh hello FTX, Lehman Brothers, Silicon Valley Bank).
Buying/storing a cryptocurrency with a middleman (centralized exchange) undermines the exact reason Bitcoin exists:
Which is to allow anyone to participate in the global financial system, giving them complete ownership over their assets, investments and information.
BUT.
Humans don’t change overnight.
Giving investors the opportunity to purchase Bitcoin ETFs introduces them to the world of crypto, allowing them to dip their toes in, learn and eventually (hopefully) dive in head first.
It takes time for people to adopt new ideas.
…but giving them a stepping stone (ETF) sure will help them take the leap.
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I’ll certainly bring back to skim more.
This website absolutely has all of the tidings and facts I needed adjacent to this thesis and didn’t know who to ask.
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