Bitcoin spot ETF's approved

This is historic, the SEC has approved spot Bitcoin ETF’s



One more ‘product’ to ignore. Unlike Mt. Everest, there is no need to climb aboard just because it’s there.

The Captain

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What I find interesting is that if they had MT. Everest behind a chain link fence, and then the government came in and removed the chain link fence, how many people would climb Mt. Everest then.

This opens bitcoin up to pensions, governments, the regular Joe, and everyone else. This essentially puts the SEC’s stamp of approval on Bitcoin. Something I never thought would happen.


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I think the SEC did not see any strong reason for not allowing people to invest this way if they wish. I think correct decision by them.

I like real things more.

d fb

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The courts were the catalyst. When the SEC lost their case to Greyscale it pushed them to allow bitcoin etf’s. Although I thought they would drag their feet.


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Either buyers will be happy with profits–or unhappy with losses. Who will profit–or not–can only be determined when the market is made available to the public. Future determinations about such an exchange can only be made based on the results of the experiment.


I agree in a libertarian sort of way. HOWEVER, the promise of Bitcoin as per the Bitcoin whitepaper and its proponents lies in the capabilities of Bitcoin itself e.g. trustless transactions across borders, banking the unbanked, not controlled by a central entity, self-custody, immutable transactions on the blockchain, and so on.

So now you take Bitcoin, bundle it, strip out the self-custody and decentralization, trade it without blockchain transactions, and otherwise get rid of the unique capabilities…
…doesn’t that remove all of the attributes that make Bitcoin valuable?

And it gets worse because in a practical sense Bitcoin doesn’t actually function as promised in any meaningful way. For anything you need Bitcoin for, there is an existing option that works better, with the exception of certain types of illegal transactions.

So if you take something that doesn’t work, strip out the unique qualities (that is, the reasons why people might want to own it) and package it as an investment product…is that good? Is it smart?


If you are profiting from the existence of the exchange, then YOU want it. In other words, the exchange will profit, as will those who are the middlemen (i.e. same as workers buying/taking orders on any other exhange). They rely on fees. How will those be determined? Uknown.