stay strong guys

Anyone own any bitcoin ETFs?

I don’t understand the point of doing that versus just outright owning btc.

This post was edited by ofthevoid on May 31 2021 06:49pm

It's an alternative way to proxy the movements while actually owning a type of security at a lower cost. Bitcoin isn't a security, for instance.

ETFs typically have fees so I’m not sure what you mean by lower cost.

Only makes sense if you’re trying to buy some type of 2x 3x leveraged product that magnifies the volatility.

Someone who doesn't have 30k to own 1 BTC can still take advantage of the movements by going to a lower entry point ETF, therefore cost.
Yep, 2x, 3x, and even 5x ETFs exist out there, which is another attractiveness.

For those unaware, Elon flip flops on Bitcoin because his influence on the price movement helps him manipulate tax laws to lower the burden of his tax bill (FIFO)

This post was edited by SSBBWGiantessLover on May 31 2021 11:04pm

You can buy fractional Bitcoin, you don’t have to buy a full coin to own it. I can go buy 1 dollar worth of Bitcoin right now.

Personally I’d advise you to own BTC itself rather than giving some basis points away by buying an ETF. ETFs are great for diversification but what diversification are you getting buying a Bitcoin etf when there’s only one asset.

Idk maybe I’m missing something.

You are absolutely right on the fractional ownership, I totally forgot about that!

etf fees are generally pretty low like .10% MER in most cases and sometimes discount brokerages (i know canadian ones) offer no commission trades on ETFs, although im not sure what the etf would do unless its its in a bunch of cryptos lol.

i agree with owning BTC outright. Higher risk, higher reward.