Posted on 10/17/2021 11:14:49 AM PDT by aMorePerfectUnion
Key Points
The ProShares Bitcoin Strategy ETF, which will give exposure to bitcoin futures contracts but not the spot market, will trade under the ticker “BITO.” The Securities and Exchange Commission had not formally approved the creation of bitcoin futures ETF as of Friday afternoon and the agency may never make a formal declaration of approval for it. The proposed date for the listing is Monday, according to the new filing, but that doesn’t necessarily mean that’s when it will begin trading. That could come later in the week.
(Excerpt) Read more at cnbc.com ...
.....
If YOU would like to be on the mysterious
and very private CRYPTO PING LIST,
please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain, mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
That’s not good. That’ll bring government, bankers and banking regulations.
If YOU would like to be on a Gold & Silver PING LIST, please pm me.
The Gold & Silver Ping List covers the following:
Everything Gold & Silver
Stock market investments in mining companies,
etc.
Agree! A real mixed bag there.
We already have all that. Banks are getting into the custodian business, and crypto exchanges are conforming to KYC and tax reporting on transactions.
The effect I see as most likely is on exchange rate (price) from day-to-day, as the trading in futures affects/distorts the spot price inevitably.
question: can ETF funds change value during the execution?
Chode, not sure what you mean by during the transaction?
Yes, if you are not using limit orders. This won't be like the forex spot market where you can have instantaneous execution on the price displayed on your chart. I would assume that this EFT will be indexed in the same way QQQ is, thus at some point in the day there will be an adjustment of holdings so that the correct percentage of each crypto currency is maintained.
Quick - in three sentences explain what a Bitcoin is that the average person can understand.
thank you, that was exactly what i was asking
"Bitcoin (₿) is a digital and global money system cryptocurrency. It allows people to send or receive money across the internet, even to someone they don't know or don't trust. It is the first of its kind technology that allows the transfer of digital scarcity across the internet without needing a third party."
Come you should have enough trading experience to not post something like that. Try trading during fast market conditions, let's say during the monthly unemployment report Friday @ 8:30 and see how true that is. Your quote can be 50-100 ticks away from your execution price. On forex spot often the other side is a money center forex desk and so those quotes are a little bit sleepier but never, ever count on that. Recipe for disaster.
Yes, that is built-in. I was just addressing what you see quoted and the result of the trade when when you press the button.
Utterly meaningless and incomprehensible.
The typical response one gets fro bitcoin proponents.
One could say the same thing as your definition about Western Union money orders.
You’re still at this, huh? You were given plenty of answers and resources to find still more answers in the other thread where you did this. With all due respect, there is plenty of information out there.
So, genius, come up with a simple description of this nonsensical bitcoin.
Better yet, put all your money in bitcoins - all of it - if it’s so wonderful.
No wallet, no cash, no credit cards - just bitcoins.
Western union does not make their ledger available to you.
They cannot send money directly to a recipient - only to their offices.
They charge far more than a crypto transaction.
But if you are satisfied with western union, You should stick with it.
“Better yet, put all your money in bitcoins - all of it - if it’s so wonderful.
No wallet, no cash, no credit cards - just bitcoins.”
Nonsense, that’s a straw man argument Why on earth would anyone do that with any investment? Would you advise anyone put all their money into a single stock?
Why do you have such an axe to grind? If it’s not your thing, that’s fine. Don’t get involved. Nobody is forcing you.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
