Keep in mind that the ETF’s are comprised of individuals as well as other entities. Blackrock itself doesn’t own the Bitcoin. They just gobble up the fees.
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Yes. I still look at it as a megatrend indicator of tradfi beginning to allocate a percentage of their portfolio. It may fluctuate, but I see it becoming more like passive flows into the S&P500. When I think of it like that I get very bullish.
When I think about the earnings drops coming, a la TGT today, I realize money will flow to the best return. It's going to get crazy.