I don’t understand a crypto ETF… wouldn’t it basically just be a price return swap at that point? Which kind of defeats the purpose of crypto no?
Unless it makes in kind distributions which it obviously won’t.
Crypto isn’t about price right? It can’t be about price… $btc $eth
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Right that makes sense but it undermines the entire investment thesis IMO. Owning crypto isn’t a bet on the price action… it’s a bet on the utility of the U/L asset.
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Is it though?
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