1. The full name of ETF is exchange traded fund. It is an open-end fund that follows the price behavior of basic assets or a basket of assets and is listed and traded in the exchange with variable fund shares. Some ETFs are backed by cash, while others are backed by physical assets themselves. ETF is a very popular financial derivative in the financial market
in short,
bitcoin ETF tracks the price of bitcoin. If the price of bitcoin ETF goes up, then the price of bitcoin goes up; On the contrary, if the price of bitcoin falls, the price of bitcoin ETF will fall. The difference between bitcoin and bitcoin ETF is that we don't have to worry about the bitcoin in our wallet being stolen by hackers, and we don't have to worry about where our bitcoin should be stored. This is a promotion on the technical level. If we buy bitcoin ETF, we will no longer have to learn how to operate bitcoin on the computer.
2. ETF, fully known as "trading type open-end index fund", is a kind of open-end fund listed and traded on the exchange with variable fund shares. Investors can not only apply for or redeem fund shares from fund management companies, but also buy and sell ETF shares at the market price in the exchange. ETF is the bitcoin holder's consignment of bitcoin spot to the fund company, and then the fund company relies on it to publicly issue fund shares in the exchange and sell them to all kinds of investors. In addition, banks and brokers will be responsible for underwriting
in short, bitcoin ETF is to securitize bitcoin into an open-ended fund proct that can be bought on the exchange
the successful application of bitcoin ETF means that:
1. The successful application of bitcoin ETF will first lower the threshold of bitcoin transaction and bring a lot of money to the bitcoin trading market
2. It will accelerate the development of cryptocurrency instry and promote asset custody
3. ETF is equivalent to telling the public that bitcoin has been officially recognized as a legal asset class, changing people's overall view on the regulatory risk of cryptocurrency, which will accelerate the public's acceptance of cryptocurrency represented by bitcoin
the launch of any ETF proct will naturally stimulate its underlying proct market, because on the one hand, the underlying proct is most suitable for hedging ETF price fluctuations, and on the other hand, ETF purchase and redemption will inevitably involve buying and selling entity bitcoin. If the 15th application is passed, it will be a healthy development. In the next step, there will be more demand for derivatives, such as ETF options
3. bitoffer has bitcoin ETF so far, almost all applications for bitcoin ETFs have been rejected by the US Securities and Exchange Commission, including those from bitwise asset management, Winklevoss brothers, Vaneck / solidx and direxion
it is understood that Wilshire Phoenix applied to the New York Stock Exchange (NYSE Arca) for bitcoin ETF for the first time last summer, and submitted amendment No. 6 of its trust fund registration statement to the SEC on February 14. Unlike other previous bitcoin ETF proposals, Wilshire Phoenix's ETF will invest in both bitcoin and US Treasury bonds. Second, the trust will be automatically adjusted once a month to address concerns about fluctuations in the bitcoin price
comments: for a long time, bitcoin ETF has not been passed because the SEC is based on the risks and concerns related to cryptocurrency funds, including pricing, liquidity, custody, arbitrage and possible manipulation problems. Obviously, Wilshire Phoenix has paid attention to this point in the design of the fund this time. It has added the share of US Treasury bonds. If the price of bitcoin fluctuates too much, it will increase the share of bonds and rece the share of bitcoin. But it still doesn't work. It still can't explain the manipulation of bitcoin price. If this problem cannot be solved, bitcoin ETF will be difficult to be approved. So many people are actually immune to this problem, and it is really difficult to get approval in a short time
in view of the SEC's rejection of bitcoin ETF application, it can be said that the only hope of cryptocurrency practitioners for ETF has been broken once again. The reason why bitcoin ETF is expected is that it is of great significance. We can understand it as a stock of NASDAQ or NYSE. If bitcoin ETF is listed, all investors can buy it directly from compliance channels. This is equivalent to expanding the audience of bitcoin from the coin circle to the U.S. stock market and even the whole global market. This demand will be enormous
4. It's very difficult in a short period of time. Every time it's close to the examination and approval gate, there will be a wave of speculation. The result of the hype will make you feel hopeful, very hopeful to pass this time, and then wait until that day to find that you failed. Don't trust the media in the field of
blockchain. Many of them are manipulated by the makers
I hope I can help you. If you think it's good, welcome to adopt it!
5. Let me tell you that everything is connected. Everything has its cause and effect. The reason why the U.S. forces RMB appreciation is our domestic real estate instry. Because the domestic economic policy centers on real estate, the housing loan policy provided by banks in the early days was that the original land of 50 thousand square meters was sold by developers after they built it. However, the loan can be used for 300000 yuan, and then they can buy their own house in other identities. The price of 300000 yuan can be used for 600000 yuan loan. If the loan is not paid, the bank can only confiscate the house, but the house is only worth 50000 yuan, So the bank dare not confiscate, also dare not let the developer bankrupt, can only continue to maintain high prices. Because of such a loophole, the current real estate instry is so crazy, and a large part of it is the influx of foreign capital. Now China's foreign exchange reserves are the first in the world. This money is not earned by our foreign trade, but by others. Let you print more RMB. Because of the desperate housing loan, the Bank of China's money printing machine has never stopped. If the house price falls, what should these overprinted paper money do? Isn't it waste paper? American capitalists already have a lot of RMB in their hands, so they force the RMB to appreciate. They can exchange less RMB for us dollars, then exchange all RMB and empty our money. That's what they want. To tell you a joke, in early 2009, an American came to China to invest in real estate. He exchanged US $100 million for RMB 700 million. One year later, he earned RMB 200 million and RMB 900 million. Then the RMB appreciated. He exchanged US $600 million for us $100 million and the remaining US $300 million continued to invest in real estate in China. A few years later, Chinese Americans became the richest man in the world. There is another version. At the beginning of 2009, an American came to China to travel. He exchanged 10000 US dollars for 100000 RMB. After eating, drinking and having fun for one year, he had 50000 RMB left to catch up with the appreciation of RMB. As a result, he exchanged 50000 RMB for 10000 US dollars and went home happily.
6. The antidote, yes. At present, the price of bitcoin is 46000 yuan, 100000 yuan can buy more than two. The current price of enterprise special currency is 0.002 yuan, 100000 yuan can buy 50 million pieces. If you want 100000 to 200000, you need to double both kinds of
digital currency. At this time, you will find that it is very easy to change from 0.002 yuan to 0.004 yuan, because there are few digital currencies below 1 yuan, and there is a lot of room for appreciation. But it is very difficult to double bitcoin to 92000 yuan. Comparing the two, we can see that there is more room for the appreciation of bitcoin. For ordinary investors, it's too wasteful to speculate in bitcoin, but the rich local tyrants are another matter.
7. It is understood that bitoffer has been tested, bitcoin ETF should be launched in the near future, I believe will be very popular, mainly look at the mechanism of the purchase and redemption, if it is the same as traditional ETF, that awesome.
8. Peirce said investors should not wait for the SEC's decision because it may take a long time for the SEC to start accepting and approving bitcoin ETFs. She added that bitcoin ETF could be approved tomorrow or 10 years later, and the SEC could not give a specific time. Yesterday, the SEC has officially announced another micro v-bq Er Wu Ba scar y to postpone the decision of bitcoin ETF. But she stressed that the "institutionalization" of cryptocurrency is inevitable, on the premise that the infrastructure can be improved day by day.
9. At present, the bitcoin market is very chaotic, most people are cheated. It is suggested that investors should verify the issuing unit, sales unit and agent of bitcoin, as well as the operation mode, transaction mode and purchase mode of bitcoin. If you buy a fund, you must go to the official website of the fund instry association to inquire about the filing information of the fund and the fund manager to avoid being cheated. If you have no experience in investment and financing, you can take a look at the national currency fund of the bank, which is better than deposit.
