Before the advent of the first gold trader, it was not easy to invest in gold. But it was easy to buy gold, but at that time, the cost of acquisition and storage was high. But with traded funds, this allowed gold to be owned without actually owning it. Similarly, if the bitcoin trading funds are approved, this may be an important news for developers. The acquisition may be approved by the ETFs as early as 16 August 2018, although nothing has been confirmed so far.
how is this even "similar"?!!
gold is a physical thing and the buying and storing it is hard, and the more of it you have the harder it will be to buy and store. and that storage is risky so you have to spend a lot of money securing it!!!
in comparison whether you have $10 worth of bitcoin or $100 million, it is equally easy to store. it will be harder to buy larger amounts but the storage is easy and it can be safest thing possible.
something like ETF makes sense for gold but it doesn't make any sense for something like bitcoin. specially when you think about why bitcoin was created in fist place: to not-need any third parties.
If this happens for developers, this will raise the price tag to $ 60,000, which is expected by some well-known investors.
i don't think so. there is actually some fear of more manipulation entering the market with ETFs. it is not all going to be hunky dory with prices rising to the moon making you super rich. not to mention that bitcoin doesn't even need ETF to reach $60k, $100k,.... price levels.