Bitcoin Crosses the Chasm
Piece on the approval of US Spot ETFs and their significance for the adoption of Bitcoin
Yesterday the SEC begrudgingly approved 11 Bitcoin ETFs by a 3/2 majority.
This means that any individual or company can now gain exposure to Bitcoin as easily as they can buy shares. The price they pay for not buying Bitcoin directly is an admin fee, the inability to sell outside trading hours and exposure to counterparty risk.
You aren’t buying the cake. You are buying a picture of the cake. We think the cake tastes better.
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