The regulatory approval of an exchange-traded fund isn’t supposed to be a mass-media event worthy of Wrestlemania. Yet here we are. The hype around US spot Bitcoin ETFs has reached meme levels akin to pandemic-era laser eyes: Crypto prices are soaring, hackers are mobilizing and Redditors are pumping. But the promise of game-changing, gold-like adoption looks like a meme too far.

The speculative build-up to US Securities and Exchange Commission approval of the product has been music to the ears of Wall Streeters scrambling to flog ETFs at low, low prices — with fees set at around 0.2% to 0.4% and the prospect of as much as $4 billion being gathered on the first day alone for some 11 funds in the pipeline, according to Bloomberg Intelligence. Crypto bros should feel free to gloat as ETF leader BlackRock Inc.’s Larry Fink flips from calling Bitcoin an “index of money laundering” to saying it’s “digitalizing gold.”

QOSHE - Bitcoin ETF Hype Is More Memestock Than Gold 2.0 - Lionel Laurent
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Bitcoin ETF Hype Is More Memestock Than Gold 2.0

4 137
11.01.2024

The regulatory approval of an exchange-traded fund isn’t supposed to be a mass-media event worthy of Wrestlemania. Yet here we are. The hype around US spot Bitcoin ETFs has reached meme levels akin to pandemic-era laser eyes: Crypto prices are ........

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