May. 06, 2022
Futures and other cash settled derivatives are vulnerable to manipulation. Since bitcoin is a finite resource a spot based ETF is more appropriate to protect investors from various manipulation and fraud tactics that are possible on a cash settled derivative. Also, the fees should be much lower for investors with a spot ETF. The futures based ETF introduced other costs that make it undesirable for long time horizon investors. It is time for the SEC to figure out how they can allow investors to use the ETF markets to invest in this asset in a low cost way. -steve w