With just days left before a spot Bitcoin ETF is expected to be approved by the US Securities and Exchange Commission (SEC), Alistair Milne, Chief Investment Officer (CIO) of Altana Digital Currency Fund, addressed several myths surrounding the Spot Bitcoin Exchange-Traded Funds (ETFs). In recent weeks and months, several shockingly false rumors have persisted, painting a false picture of the future with a spot ETF.
Busting Myths: A Look At The Most Shocking Rumors
Milne emphasized the stringent legal and operational frameworks governing spot ETFs. With this, he addressed the common myth that spot ETF could water down the 21 million supply of BTC by injecting “paper Bitcoin”. He stated, “Spot ETFs are legally obliged to invest net inflows in BTC, which will be held by a custodian, fully audited, etc.”
Moreover, ETF providers like BlackRock, Fidelity and Bitwise are ‘seeding’ their ETFs with cash on exchanges to be ready to buy Bitcoin when inflows occur. This is a proactive
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