Meet Alister Milne
Alister Milne is a well-known figure in the cryptocurrency and blockchain community. He is recognized for his role as an investor in the Chief Investment Officer of the Digital Currency Fund, part of the Altana Wealth investment group.
Active Name in Social Media
Milne is known for his active involvement in sharing his views on the latest trends, market analyses, and developments in the crypto industry, particularly on Twitter. As a result, his commentary and perspectives are followed by many.
Spot Bitcoin ETFs
Milne took to social media platform to address and dispel widespread FUD about the potential U.S. spot Bitcoin Exchange-Traded Funds.
Legal Aspects and Investment
Milne emphasizes that spot ETFs are legally required to invest net inflows directly into Bitcoin. This investment would be managed by a custodian and subjected to full audits, ensuring transparency and regulatory compliance.
ETF Providers’ Role
Milne notes that ETF providers are preparing for potential inflows by ‘seeding’ their ETFs. This involves having cash ready on exchanges to purchase Bitcoin when inflows occur.
Involvement of Actual Bitcoin
It is crucial to note that only real Bitcoin is involved in these spot ETFs, distinguishing them from derivative ETFs.
Price Efficiency and Market Makers
Market makers and other traders play a crucial role in ensuring the ETF’s stock is priced as close to the actual market value of Bitcoin as possible.
ETFs Survival and Impact on GBTC
Milne stresses that the survival and performance of spot Bitcoin ETFs depend on its performance relative to Bitcoin.
Hot Take
To conclude, Milne’s insights on the shift in market dynamics and the impact of spot Bitcoin ETFs shed light on the potential market transformation as a result of their introduction.
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