At a cost of 0.95% (!) the ProShares Bitcoin Strategy ETF should start today. Explanation and for who this is and for whom this is and is not.
This.
Something that irritated me yesterday at VI is that #ChrisWoerts always about #Bitcoins talk and then shout things like: in Bitcoin you have no inflation. Nor is he talking about risks and volatility. not about ban in China, energy consumption, etc. @footballinside pic.twitter.com/HsYF6CZxOt
— Cees Smit (@ceessmit) October 19, 2021
I rarely see Cees Smit so outspoken. Rarely do I agree with him so much myself, because I think he touches the essence here: the necessary urge to convert with such assets. I explain.
a guru? it’s just a retail investor talking about his own position and can only buy and don’t understand the product and the concept of inflation. In a program like VI, this is life-threatening.
— Cees Smit (@ceessmit) October 19, 2021
The regulated market depends on the laws, rules and disclaimers. In the unregulated crypto market, everyone can, is allowed and does what he or she feels like. Especially winning souls. Because whoever is in it has only one interest: that even more are added to make the price rise. You must have it from the other.
Just a price
The same goes for commodities, which also only have a price. Most coins don’t make money of their own either, such as the profits of the companies belong to the shareholders (who decide what to do with them), pay bonds coupons, yield real estate rent and some art forms collect royalties.
In a nutshell: certainly in the long term, we get rich together (and we get shaved together from time to time) with equities, bonds and real estate. With assets that only have a price, you become rich at the expense of the other, or poor in favor of that other. An zero sum game So. And the market always earns.
Because either the market deserves. See the GameStopreport today from the SEC. The market makers are still dancing the horn beep of that frenzy last winter. And they’ve been preying on the unregulated crypto market for years, where spreads know no bounds and no one pays attention to fees. See a very big trader here:
CITADEL SECURITIES FOUNDER KEN GRIFFIN SAYS HIS FIRM DOES NOT TRADE CRYPTOCURRENCIES BECAUSE OF THE REGULATORY UNCERTAINTY AROUND THEM
CITADEL SECURITIES FOUNDER KEN GRIFFIN SAYS THAT IF CRYPTOCURRENCIES WERE REGULATED, HIS FIRM WOULD TRADE THEM
— *Walter Bloomberg (@DeItaone) October 4, 2021
ProShares also jerks off on its own site with large equipment from. Cheering video and nice scrolling through sexy one-liners: it is clearly made for the general public and not boring, sec and to the point for the sector.
Especially those costs are there, and not just a little. Today should be a good day for trading in the ProShares. Ask your bank or broker if you are interested, I have no idea who is going to offer this product or not. I can only imagine that there is also some interest from that angle…
This is the fact sheet of that ETF. There is not much, except for the underlying futures and costs. You got it right: 0.95%. And that for a tracker… Add that to the spreads mentioned and the lack of knowledge and skills in the greedy herd and you understand why the industry is eager to come up with products.
Just some housekeeping in between, my Refinitiv data overview is also anxiously empty.
In summary, congratulations to ProShares for being the first to create an ETF that even the megacritical SEC can’t shoot. Who follows? For those who are familiar with futures trading, this can be a nice asset. If you’re not, I’d stay away from it.
undressed
I was struck by what an experienced professional proprietary trader told me about two years ago when we were talking about the VIX and VIX-on-VIX (volatility) futures. They are also the hard-hitters, where you have to know everything about the hat and the brim, because otherwise you no time can be undressed.
I always advise private individuals not to trade in such productshe said to me. Do you know what it is? If things are going fast and you say that, people think you don’t want them to earn from it. That’s how it is. There is no disclaimer, law, rule or peasant wisdom against greed.
Good luck if you go into this product, but be careful out there. There are parties and people in that market who are much smarter and faster than you and who have much more resources.
–
