DireMunchkin on Nostr: My thinking on the ETFs are: They're not made for me or people like me, but people ...

My thinking on the ETFs are: They're not made for me or people like me, but people who are unable to self custody for whatever reason. The way I'd like to take the ETF discourse is like: Yes, you should self custody but if you can't yet what's the least harmful set of training wheels you can put on?

I've thought about this for a bit, and I think the most important aspect is that you get a ETF with direct withdrawal on chain: So that when you do learn to self custody, you can do so without selling and re-buying your stack, and potentially giving away 20-30% of it as capital gains tax. You can also withdraw in an emergency to "run the bank".

I think odds are pretty good that if we get one ETF to add direct deposit/withdrawal all of them will have to. ETFs list on the same stock exchanges and are very competitive, they just can't afford to be behind their competitors in features.

quoting
nevent1q…4m0p

Self-custody is king, BUT if you are not up to it... YET, the Bitwise ETF is not only the cheapest but 10% of profits will go to open-source devs through Opensats, Brink, and the HRF.

The only issue is that they use Coinbase as a custodian instead of self-custodying themselves, like how Fidelity is doing.

You can also pay more and go with the memes with $BRRR if you are rich.

I wonder if they will ever show proof of reserves for these.

- Bitwise, Coinbase / $BITB / 0.20%, 10% of profits to Opensats, Brink, HRF
- Fidelity, Own / $FBTC / 0.25%
- Ark Invest, Coinbase / $ARKB / 0.21%
- BlackRock, Coinbase / $IBIT / 0.25%
- VanEck, Gemini / $HODL / 0.25%, for the OGs.
- Franklin, Coinbase / $EZBC / 0.29%
- Wisdom Tree, Coinbase / $BTCW / 0.30%
- Invesco, Coinbase / $BTCO / 0.39%
- Valkyrie, Coinbase / $BRRR / 0.49%, for the memes!
- Hashdex, BitGo / $DEFI / 0.90%
- Grayscale, Coinbase / $GBTC / 1.50%