GLD probably hasn’t done gold any favours though. I wonder whether a bitcoin ETF will do the same.
Well, one big difference, and what would be absolutely critical for bitcoin ETFs and Trusts moving forward, is 100% on-demand transparent auditing of holdings. That has to be a thing, and it should be trivial and built-in. If bitcoin exchanges and brokers can expose it easily (well some have chosen to anyway), then COIN or any of the other ETFs should be able to make that happen on any given Sunday.
Otherwise it’ll just become like Gold ETFs long term…. no transparency, no proof of holdings, fractional reserve trading, naked short-selling, etc.
Published at Wed, 01 Mar 2017 15:06:00 +0000
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