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…why? What’s the significance of it beyond the minor step towards governmental legitimacy and retail acceptance of crypto?
It shows what the normie financial press cares about. A lot of the FUD around these ETFs is "who's funding them" "where are they keeping their crypto" "how easily gamed are they" etc. The most interesting thing about BTC ETFs is it forces the normie financial press to regard them in terms of asset classes and Sharpe's Ratios and shit rather than just pointing at it and going "bitcoin bad buy my mutual fund."