I got a question, if Bitcoin value is represented in an ETF, doesn't that mean the Bitcoin has to be out of the system and representing the ETF it is in in some way? Which means cold storage, or in a wallet representing the ETF correct?
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Not necessarily. What if the ETF is based on futures, or on some derivative monster which itself is created based on futures alone?
Hmm, I'm not sure, and I don't really understand them enough to answer that question mate.