Markets are often counterintuitive, and there could be a few surprises in store if a spot Bitcoin ETF is finally approved, said Florian Grummes, Managing Director at Midas Touch Consulting.
"The market pricing in that potential over a period of time. And once it's finally out, it's time to take profits," Grummes explained."You would think it's great news coming to the market, but it is selling off because everybody has already positioned themselves [for the event]." Grummes warned that Bitcoin investors would be giving up something essential with the introduction of a spot ETF."Personally, I'm not a fan of ETFs at all. I understand that for retail investors, it's an easy way to invest," he said."I prefer direct ownership of stocks. I also want to directly receive the dividends and have the right to vote. All these things you give up with the ETF structure.
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