Don't get too excited about the leveraged bitcoin futures ETF, governments will use it to naked short BTC into oblivion just like the hedgies did with GME. I think this is their ultimate and last ditch effort to nuke BTC. If BTC survives this, we good.
Basically, this is how an ETF works; an investment company creates a subsidiary that acts as a commodity pool. The pool in turn trades bitcoin futures contracts typically in an effort to mimic the spot price of bitcoin.
Blackrock doesn't need to own physical BTC, they can print paper BTC as much as they want and artificially suppress its price.
Not financial advice, but I'm not looking forward to next week.
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