wait i just realized that the reason the etfs dont "just buy a bunch of bitcoin ahead of going getting listed" is because they won't have access to the money to buy the coins until after people start putting capital into their funds (post-being listed)
i mean there's probably some initial capital investment happening, they call that 'market making', right?
still thinking about that tweet i saw about thousands of coins moving off kraken in batches this week. are things moving around ahead of a sale cycle?
this etf thing really has gotten my attention, and i dont know what to think about that. i'm really really curious about where these guys are planning to get their coins from, what are the logistics of their OTC agreements? who are they planning to buy from?
does coinbase have sellers lined up? have the mining companies been called? what's coinbase's take rate for helping their ETF customers close on bitcoin?
weird to think that bitcoin might soon be a rebirth for the 'broker-age' industry -- the person who can actually broker bitcoin deals about to be a rare beast? do they already exist or are we gonna see a whole new ecosystem of coin hunting get born?
niftynei /
npub1e0z…0txy
2024-01-09 06:09:40
Author Public Key
npub1e0z776cpe0gllgktjk54fuzv8pdfxmq6smsmh8xd7t8s7n474n9smk0txyPublished at
2024-01-09 06:09:40Event JSON
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"pubkey": "cbc5ef6b01cbd1ffa2cb95a954f04c385a936c1a86e1bb9ccdf2cf0f4ebeaccb",
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"kind": 1,
"tags": [],
"content": "wait i just realized that the reason the etfs dont \"just buy a bunch of bitcoin ahead of going getting listed\" is because they won't have access to the money to buy the coins until after people start putting capital into their funds (post-being listed)\n\ni mean there's probably some initial capital investment happening, they call that 'market making', right? \n\nstill thinking about that tweet i saw about thousands of coins moving off kraken in batches this week. are things moving around ahead of a sale cycle?\n\nthis etf thing really has gotten my attention, and i dont know what to think about that. i'm really really curious about where these guys are planning to get their coins from, what are the logistics of their OTC agreements? who are they planning to buy from? \n\ndoes coinbase have sellers lined up? have the mining companies been called? what's coinbase's take rate for helping their ETF customers close on bitcoin?\n\nweird to think that bitcoin might soon be a rebirth for the 'broker-age' industry -- the person who can actually broker bitcoin deals about to be a rare beast? do they already exist or are we gonna see a whole new ecosystem of coin hunting get born?",
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}