A bitcoin ETF hasn’t been approved yet but all signs point to an announcement on Wednesday and trading as soon as Thursday.
This will lead to something of a frenzy on CNBC with advertisers of the 11 prospective ETFs vying for supremacy in what will surely be a winner-take-all market.
How much money flows into those ETFs will determine what happens next to bitcoin. Here are eight things to consider:
1) Beware the smokescreen effect
The long history of ETFs shows it’s a winner take all market. Ultimately there will be one bitcoin ETF to rule them all as money gravitates to liquidity when identical products are offered. Right now, there’s a battle for flows with fees running from 0.49% to 0.2% and a handful offering fee waivers completely for six months…
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