Disappointing first day with the ETF. Maybe it was all hype.
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Iz ded.
The fucking circus show the SEC put on this week absolutely played a part.
Happy to see ETF whimpering to a start.
Stacking continues to bring bountiful amounts of sats per cuckbuck. We don’t have to worry about value flowing to harder currencies. The rails are built, fiat will be debased further and further, and the value will flow to hard money.
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Curious about different answers to this. What was disappointing?
Disappointing in what way?
Patience is a skill many maxis talk about but few have mastered. I said last week, in the first few months of the EFTs as to price EXPECT NOTHING.
it's all Barry's fault
1 BTC = 1 BTC
Seems like just another day to me #bitcoin
Most people don’t even know what an ETF is. And they definitely don’t know that there is now a bitcoin ETF. This is just another bridge being built from one ledger to the other on a long march to a better money.
Eh? Was a mega day. All the normies got to see the disappointment we live on a daily basis 😂
Biggest ETF launch in history. 4.6 billion in first day volume.
All noise. Long term it will bring more capital. But remember that price isn't the main focus. Money that pleases God is more interesting.
From what I understand, many shares were bought (+$4billion), but they haven't bought the the BTC to back it yet. There are delays since cash settlement or whatever isn't until EOD at the earliest. I imagine if there was USD price movement due to buying actual BTC it will be on at least a 1 day lag.
This is my understanding also. Over the coming months it will be a breeze for institutions to package up diversified investment products that include btc.
E.g
30 percent shares
40 percent property
20 percent cash
10 percent Bitcoin.
People won't even know they have invested in Bitcoin in their managed portfolios.
@jimmysong Jimmy your newsletter at Substack is getting send duplicated. Yesterday I got edition #374 again which I already got exactly one month before, the 11th of December. This has happened for a couple of weeks now. Check your settings!
Normal stock settlement is 3 days - don’t know if that will apply to ETF.
the ETF approval was just the colmination of last years 150ish % gains. It priced in last year