RE: LeoThread 2024-01-18 03:04

[vimukthi]

Arthur Hayes, the co-founder and former CEO of cryptocurrency exchange BitMEX had this to say about $BTC ETF:

The most feared aspect of this ETF would be allowing plebes to purchase the ETF with fiat and elect to redeem the ETF in kind for Bitcoin. The point of this product is to warehouse fiat, not to provide an easy way to buy physical Bitcoin with your retirement account.

Also, don’t forget that China will launch an exact copy of the US-listed ETF in the Hong Kong financial markets to capture flows within China and the Asia Pacific.

Read more below 🧵 ⏬

Comments

[vimukthi]

Bitcoin is a global market, and price discovery happens primarily on Binance (I guess based in Abu Dhabi). Another large Asian exchange excluded from the CF Benchmark is OKX. For the first time in a long time, the Bitcoin markets will have a predictable and long-lasting arbitrage opportunity. Hopefully, billions of dollars of flow will be concentrated in an hour-long period on exchanges that are less-liquid and price followers of their larger Eastern competitors. I expect there to be juicy spot arbitrage opportunities available.

Read the full article following this link (use Brave Browser's Speedreader feature): https://cryptohayes.medium.com/etf-wif-hat-4bf5a5609a61

[mintymile]

The article is very interesting, thanks for sharing!!!

[vimukthi]

You are welcome!

[mintymile]

Well... it was inevitable the coming of BTC ETF...anyway. Lets move on... BTC is taken over by institutions!! Sucks man!!!!

[vimukthi]

!PIZZA
!LUV
!CTPIf we can make Monero and other privacy coins mainstream along with https://dark.fi, we will have a much brighter future.

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