Gemini is a neccessary requirement for the ETF as it will be the connection to the market.
How is that ?
The ETF has to buy every BTC that is bought at Wallstreet in the "real" BTC markets. Every share of the ETF has to be underlaid by BTCs. In their proposal at the SEC they explained that those BTC will be bought at the usual BTC markets. Given Gemini is their own exchange its obv that they will likely use Gemini to fill orders from Wallstreet.
So you see? Gemini is an important requirement for the ETF.
Perfect, thank you.
Now, what about the volume from the Wallstreet, will we have a big volume from Wallstreet jumping into bitcoin using the COIN ETF ?
Thats the big question. Some expect tiny volume some expect hundreds of Millions if not Billions flowing into the ETF.
You as ImI, what do you think and what are the logical reasons that backs your reasons ?
I think the halving and the ETF could build the "perfect storm". At the moment there is no safe and comfortable way to buy and sell Bitcoin via Wallstreet so it will definitely bring some extra cash. Given how tiny the BTC-marketcap is compared to the financial markets, BTC needs to "convince" only a very small fraction of Wallstreet to go vertical. Just 0.001% would be enough.
The halving will spur a lot of buzz and with the ETF as an easy way to participate in such a situation next spring could go crazy imo.
But lets wait and see how it unfolds.
The halving will spur a lot of buzz
Why ?
BTC needs to "convince" only a very small fraction of Wallstreet to go vertical. Just 0.001% would be enough.
Why "Just 0.001% would be enough." ?