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re: SEC Approves Bitcoin Spot ETFs to List on Major Exchanges
Posted on 1/11/24 at 1:32 pm to Pezzo
Posted on 1/11/24 at 1:32 pm to Pezzo
quote:umm what? They will all buy and sell based upon their daily flows. In the end, they will have a custodian hold the bitcoin value that backs the value of the etf
supposedly only grayscale (GBTC) will hold bitcoin
1
Posted on 1/11/24 at 2:04 pm to TigerTatorTots
I’m sure many of you already know this, but unlike “traditional” ETFs which avoid many capital gain distributions due to the creation unit process, I don’t believe the Bitcoin ETFs will have the same luxury.
In reading the prospectus for IBIT, the Blackrock ETF, they will only deposit and redeem cash in the trust, which means they’ll be buying and selling BTC along the way. That will potentially create capital gain distributions along the way.
Just some food for thought.
In reading the prospectus for IBIT, the Blackrock ETF, they will only deposit and redeem cash in the trust, which means they’ll be buying and selling BTC along the way. That will potentially create capital gain distributions along the way.
Just some food for thought.
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