Yes I understand the rollover fees when the old contract expires and they need to roll into the new contract. So I decided to dig a little and compare the price when bitcoin etf went live 2 years ago and compare it to today.

At first it seems you would lose 10% by comparing the prices, however they actually pay a dividend and when you add the dividend and compare the price you are out about 1.5-2.0%. This is after management fees so about 1% a year.

I don’t think this is that bad. Especially for something that can easily double triple in the next decade, nobody will seem to mind the small average 1% fee.

Looks like we broke it! The DTCC website is now showing Error code 525, and has been for the past few hours already.


(https://www.dtcc.com/products/cs/exchange_traded_funds_plain_new.php)

They probably did not expect such a massive surge in web traffic on their server all at once.  

It looks like this action of ETF listing is a manipulative action to stir the gear of people emotion into an optimistic market.  It was reveal in this new thread: ETF $IBTC REMOVED IN DTCC WEBSITE!! MANIPULATION COMING OUT? that the ticker is not removed on the DTCC website.  Whatever the reason why it was removed, the action of listing the Blackrock ETF is to bring more fuel to the hyped brought by the fake news fueling the positive sentiment of the Bitcoin market to FOMO.  With this I think there will be more make belief and lies ahead in order to create a temporary bullish market run, what worries me is the possible bull trap that lies ahead.

It is head shaking because why would Cointelegraph share a news update if they knew it was fake? They could have a lawsuit charged against them if they did this which they also knew will certainly pump the market. I am beginning to speculate that it might be a leak, however, the next ETF scheduled for approval is Global X which makes the leak another head shaking occurrence.

It is another attempt to heat the market up with early news for Bitcoin Spot ETF approval in the USA. There is no approval for Bitcoin Spot ETF in the USA. and the ticker iBTC is only if that application is approved.

When it will be approved? We don't know.
Will it be approved? We don't know too.

Good news recently is from Hester Pierce, one of SEC staffs under Gensler. She said she is a supporter of Bitcoin and she believes Bitcoin Spot ETF should be approved according to current active laws and regulations. Rejection is only because of Gensler, the SEC chair and if he changes his mind or there is another member votes Yes for Bitcoin Spot ETF, it will be approved.

I forsee people acknowledging that the Blackrock ETF application will be approved. While this might be a fate yet to be decided on, SEC is not relenting on its measures to strangle the processes that will lead to these companies bring Bitcoin to the world of investors on a global scale. The SEC knows that, if Bitcoin goes mainstream, their control wouldn't be as circumspect as it used to be, meaning that financials wouldn't be in their favor anymore.

Knowing this, the SEC is out to do whatever is within its power to shut down the ETF applications.

Looks like another bitcoin etf was just added to the DTCC, this one is BTCO and it’s for the Investco Galaxy Bitcoin ETF.

Again have no idea what this means since apparently the other one was listed since August and after this one was added a few hours back there was no pump.

So this I guess means that these don’t really mean much until an actual approval.

It is still a show off to me, and this doesn't mean it won't be approved because it's looking like a reality in coming months but I still don't want it to get approved fast because I am not done accumulating yet.

In short I even want this bear market to stay for few more months into 2024, because all my focus was after April to May of 2024, hopefully my dream comes true and for those that want their bags to pump so fast do not be in haste, a long bearish market is far more healthy on the long run.

I am now wondering what will happen between Black Rock and SEC, it do look like Black Rock can defeat SEC this time and also it's not just Black Rock only, there are many other companies filing for a ETF approval, it's looking promising so far but I hope they slow it down.