Quote from: gentlemand on August 22, 2018, 08:16:04 PM

This ETN is voluntarily backed 1-1 so it's not pure paper like many others. If it was taken up with a vengeance it would have a market effect.

What does "voluntarily" mean in this situation?

Quote from: darkangel11 on August 22, 2018, 08:18:07 PM

Quote from: stompix on August 22, 2018, 06:21:28 PM

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This is so shady. Since the SEC did not approve anything similar to that on US soil and the Swedish fund doesn't allow US citizens to invest, somebody had to find a way to go around it and instead of launching the ETF in the US it's launching a derivative of a fund that is not holding BTC, so it's also a derivative. So, a US citizen is buying a local derivative of a Swedish derivative that is based on the value of a volatile cryptocurrency. It's like an EU citizen lending money to someone in Africa through a third party based in India. How could this go wrong? Grin

In about 1000 ways? Grin

Btw, it's not shady, it's esoteric.

Why would anyone buy this and not simply buy BTC is just puzzling.
At this point, this ETN is more difficult to figure out than BTC itself for the average Joe.

Quote from: davis196 on August 23, 2018, 07:00:06 AM

We already have bitcoin futures trading and even CFDs(contracts for difference) for bitcoin.Do we need another derivative that will help "buying bitcoin without actually buying bitcon"?Those derivatives are created for investors,who are too scared to sumply buy bitcoin and HODL it.To be honest,I don't think that we need such type of investors in the crypto community.

No, we don't "need' it but as long as there is money to be made people will keep inventing ways to trade to make more money and there is absolutely 0 we can do about.