BITCOIN

Scottex99

Wen Binance, wen moon

User232002

HMRC miles behind the curve. Outgunned and outmatched.

Whole article reads like a "We promise we can catch you, so please don't try to do anything because we are totally totally on it even though we can't provide any evidence of what we are honestly and very definitely capable of."

Zola.

The main way people get caught is when sales are converted to cash in the bank, and a little alert is sent to HMRC from the bank.. 

Zola.

https://blockworks.co/fidelity-international-bitcoin-etp-hits-europe/

Fidelity International is launching the Fidelity Physical Bitcoin ETP (FBTC) for its professional and institutional clients in Europe.

Zola.

https://www.cityam.com/warren-buffetts-berkshire-hathaway-dumps-visa-and-mastercard-stock-and-buys-1bn-in-bitcoin-fintech-nubank/

Watch what they do, not what they say. 

gravlax

Question about the ongoing interest in when the SEC will finally approve an application for a bitcoin ETF. The suggestion is that it will open the asset class to more US investors.

Can US investors not already get access through the existing products offered by VanEck, WisdomTree, 21Shares etc.?

The existing products are ETCs, are these ETCs materially any different to a proposed US approved ETF?

Would the approval of a US ETF make the existing European and Canadian ETCs less desirable, would investor money leave these funds in favour of a US ETF?

Aegis

gravlax said:

Question about the ongoing interest in when the SEC will finally approve an application for a bitcoin ETF. The suggestion is that it will open the asset class to more US investors.

Can US investors not already get access through the existing products offered by VanEck, WisdomTree, 21Shares etc.?

The existing products are ETCs, are these ETCs materially any different to a proposed US approved ETF?

Would the approval of a US ETF make the existing European and Canadian ETCs less desirable, would investor money leave these funds in favour of a US ETF?

I would hazard a guess that making assets available through funds is a way of allowing access for retirement funds (like SIPPs over here), which presumably can't hold crypto directly.  Whether this is a good thing or not is of course debatable. 

Zola.

gravlax said:

Question about the ongoing interest in when the SEC will finally approve an application for a bitcoin ETF. The suggestion is that it will open the asset class to more US investors.

Can US investors not already get access through the existing products offered by VanEck, WisdomTree, 21Shares etc.?

The existing products are ETCs, are these ETCs materially any different to a proposed US approved ETF?

Would the approval of a US ETF make the existing European and Canadian ETCs less desirable, would investor money leave these funds in favour of a US ETF?

US investors can get access by just buying Bitcoin through an exchange and send to their own wallet.

The existing ETFs in the US are not spot based Bitcoin products, they are synthetic futures ETFs and are not Bitcoin. However I read that you first need a futures product before you can have a spot, not sure if thats actually true or not... Gary Gensler sure is taking his time over it, for whatever reason. Maybe he wants to fill his bags some more

There are predictions that the Grayscale Bitcoin Trust will be converted to a spot based Bitcoin ETF in the US.. They own about 700,000 Bitcoin.

What I am also hoping for is some sort of Bitcoin related active fund which encompasses Bitcoin mining companies, companies with BTC on their balance sheet etc. That could be fun to track. 

gravlax

The point about retirement funds makes sense as one possible reason.

Any thoughts on whether the existing European ETCs (those physically holding BTC) are materially any different to an ETF and if investors currently holding the existing ETCs would move out of these in favour of a US ETF?

Adyinvestment

Zola. said:

What I am also hoping for is some sort of Bitcoin related active fund which encompasses Bitcoin mining companies, companies with BTC on their balance sheet etc. That could be fun to track. 

You mean like this

wrong link...hang on

gotta love the WGMI ticker (we're going to make it)