All the rage it seems nowadays. BlackRock’s potentially new ETF that will bring salvation to bitcoin’s price discovery and every bitcoiner’s dream of mass adoption.

Exchange Traded Funds (ETF) are meant to closely match the net asset value (NAV) it is tracking. There is potential volatility in this tracking of the underlying asset with the management of the ETF by the exchange and the power to split stocks. Stock splitting should not cause direct deviations of the NAV but price changes such as these inject uncertainty into the human mind and thus causes some short-term volatility.

What does this “management of the ETF” mean and how can that lead to ETF volatility with regards to tracking the underlying NAV? Well, there are a lot of monetary fines that go out to Exchanges and Brokers each year from governing entities like Finra, SEC, etc… Meaning, there are rule breakers and rule enforcers. Sometimes it’s unintentional but nevertheless it impacts your asset and invest.

Is any bitcoin ETF good for bitcoin, you ask?

ETF ≠ bitcoin, otherwise there would have been no FUD (fear, uncertainty, and doubt) from these brokers, exchanges, or governing entities. I think the media exposure and conversions about bitcoin is net positive, but a bitcoin ETF is a step away from bitcoin and its purpose of invention. Sure the custodian of your bitcoin ETF can run a node and hold the actual bitcoin, but the rails and exit ramps will definitely involve the legacy financial system, taxation, limitation, surveillance, and censorship.

Bitcoin doesnt care about a BlackRock ETF. Bitcoin doesnt care if I lose my private keys. Bitcoin doesnt care, period.

Tick Tock, Next Block. 🤙