Friend of friend, shitcoiner. Trying to show him the light:
Question...how do you feel about the BTC index funds? Do they have good upside? Certainly less than BTC ownership but what are your thoughts on those funds?
Answer:
Good questions. I hold both and was a GBTC holder up until and into the etfs getting approved.
ETFs are great for price exposure but there are now many good multisig btc IRA’s (Unchained is probably the most established and trusted).
0.25% avg expense ratios on the etfs vs $250 per year with Unchained. So the BTC IRA is cheaper once you hold >$100k.
Coinbase holding 80% of the assets backing the ETFs is unsettling for me, so FBTC gets my vote as Fidelity has their own setup.
Creating a self directed IRA, buying the etfs and then rolling them into a BTC IRA over time is a nice gradual approach to ease into self custody.
If you want to trade a bit (no cap gains in IRA), the etfs are better suited for sure. My two sats.
How did I do?
