The firms who will get approved to run these are exactly why BTC was created. While the creation of these ETFs will certainly add volume and most likely price appreciation, it goes directly against Bitcoin’s goal.
If you do buy an ETF ensure you research the fees. For example if you buy Greyscale’s ETF you will be charged 1.5%. So on 500,000 you will lose 7,500 to some fund manager that really isn’t providing you any benefit.
Bitcoin is VERY liquid. Why would you need an ETF for it. And even at that point why you be paying a 1.5% fee. That is ridiculous. It should be much closer to what UUP (US dollar index), which is 0.03%.
Fees can really hurt compounding growth.
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