I enjoyed the Bitcoin ETF article, and this one reinforces certain concepts about ETF being indirect investments. I think this post adds clarity to the other because this whole idea of an ETF is an abstraction on top of reality.
The investment is Bitcoin. The stuff between you and it is the ETF. The reason is the government treats you like a child who needs to be protected.
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I felt like I was better explaining things in the second article, so I will review the first one