I don’t know, ask gold. It’s hard to fight the money printing machine when it’s short against you. The all premise of #Bitcoin ETF being good for the price is that the ETFs hold the full reserve, if the reserves were to be fractional that’s an entire different game played on their field.
They don’t want the price of commodities to shoot up as it will make US dollar look weak. That’s why in CME futures you can take delivery of crude oil (they know that most people won’t) but don’t allow delivery of bitcoin.
Even ETF unless they don’t show the addresses then it’s all paper.
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