/\ °-° /\ on Nostr: Does it seem like the bitcoin etf may hurt price action long term which will hurt ...

Does it seem like the bitcoin etf may hurt price action long term which will hurt adoption.

They will hold the underlying asset.

When buys and sells happen at a consistent rate, they are trading paper bitcoin back and forth.

If the buys outpace the sells, they are making purchases over a large auction to avoid moving the market prices much.

What do you think?

Do most people like the alure of tax advantaged bitcoin?

How much will it hurt self custody and organic price movement?