re: Official CryptoTalk Thread

Please let me buy this spot ETF in my 401k.

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We bailing on ehex and just buy phex?

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I'm not. I would provide liquidity with any liquid eHEX I had if I had any liquid.

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It’s very cringe watching the “not your keys not your bitcoin” maxi’s clamoring all over twitter for these ETFs. It just proves all anyone really cares about is number go up. All the narratives of decentralization, sound money, freedom blah blah blah are just fodder for new greater fools. And these ETFs will bring in a lot of them.

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You're absolutely right.

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It’s very cringe watching the “not your keys not your bitcoin” maxi’s clamoring all over twitter for these ETFs.

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Unless these people are advocating for investing in a spot ETF over self-custody, I don’t see how this serves as evidence for

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It just proves all anyone really cares about is number go up. All the narratives of decentralization, sound money, freedom blah blah blah are just fodder for new greater fools

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I think I share the view that this just validates the perspective that the Bitcoin network has become sufficiently decentralized to where the regulatory agencies view its token as a commodity. It also allows for easier institutional investment.

idk you’ll have to walk me through why I’m supposed to be upset about this as someone who self-custodies but recognizes not everyone wants that level of responsibility.

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...as someone who self-custodies but recognizes not everyone wants that level of responsibility.

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Some people want to self custody BTC and have a BTC ETF at the same time.

I'm in the group that prefers self custody in actual Bitcoin, but also want BTC in my 401k and IRA retirement accounts. Would have preferred actual BTC in those accounts since 2017 but GBTC was the only game in town then. Looking forward to GBTC becoming an ETF one way or the other hopefully soon.

Unless/until you can have actual Bitcoin in a retirement account, then a BTC trust (and soon hopefully an ETF) are the only options. A BTC ETF in a Roth IRA or 401K Roth account is a very desirable investment, at least in my opinion. Actual BTC in a Roth account would be preferred if that becomes an option some day. Until then, I have not wanted to miss out, and am very happy that was my decision back then.

For anyone pro Bitcoin, the link below is a really positive article on the major shift in Bitcoin adoption that is just getting started. Bitcoin's price is becoming more inelastic due to the race that is just beginning to accumulate it by both retailers and institutions ahead of the ETF approvals. A window of opportunity is closing fast.

The Great Accumulation' of Bitcoin has begun, says Gemini's Winklevos

Gensler to Blackrock…

As expected. Whale wash traders for the win

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Gensler to Blackrock…

As expected. Whale wash traders for the win

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Link me where it was rejected plz

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TigerDeBaiter

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My man. This was not a rejection. This was a leak so they could fix the issue.

However, I could see your scenario play out. I would LOVE to pick up some 10k BTC.

In my opinion the SEC’s feedback is a positive sign that more and more investors should begin realizing. The fact that they responded so soon means they are actively reviewing the filings which means there could be approvals sooner this year rather than them sitting on them until late this year/early next year.

The SEC didn't reject the ETF applications. Instead they basically provided a roadmap for approval. It appears to be the first time they have ever provided specific guidance regarding crypto which will allow BlackRock, Fidelity and the other applicants to align their applications with the SEC’s expectations.