Quote from: Despairo on October 24, 2023, 06:04:29 AM

Quote from: suzanne5223 on October 23, 2023, 07:27:36 PM

this is also one of the reasons why I am scared of the Bitcoin spot ETF despite its going to increase the crypto market cap because it could be the weapon to treats bitcoin as non-fungible or I am I the only thinking about this?

People must be know if Bitcoin ETF is an IOU, where they not hold the real coins and trust the institutions to hold their coins. I think it's not a problem as long as people fine with that, this what freedom to choose is where you can choose to trust your coins with institutions or buy a real coins and hold it in your own wallet.

The Bitcoin ETF will work just like IOU because the institution and the government never like decentralization. Besides, I read an article today where BlackRock said it will seed its Bitcoin ETF with its own fund.
As you said, it's a matter of choosing but the way their Bitcoin spot ETF will be operated is going to treat BTC as non-fungible, and also believe very soon KYC will be made compulsory for every crypto-related transaction after the ETF approval.