Weekly Roundup 07/07/23 (Taylor Swift’s FTX secret, XRP vs glazed donuts, ETF seeding) (EP.436)
On The Brink with Castle Island
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Bitcoin ETF: A New Selling Event
I think 60% of the ETF probability has been priced in at this point. I think it could be a sell the new style of them. It's just another way to get long Bitcoin. And so you have all this money that's in tax advantage to concert now that can only be in GBTC. Then you have some market participants that can't buy physical Bitcoin because the fact that it's a commodity is an issue for their investment mandate. The day of day of listing. Just like when CME Futures launched on Bitcoin at the peak of top of the market.
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