ETF

papatoshi

There is no need to imagine. The old dude bought his ETF on Fidelity or Schwab and sleeps well at night.

SST114

Coinkite was preachiest, most vibey maxi-pad purity test projecting HWW manufacturer. There's a message and a lesson in that. Other manufacturers like Trezor hated on due to supporting other stuff even tho had btc only firmware-- well, companies have to make money to deliver a good product. Multi-sig it correctly or ETF it if doing long term hodl.

Vipu2

For sure at least some of it. People selling their coins after losing faith and giving up btc. Some selling their coins to buy them back in ETF or something else. Abusers selling those stolen coins. Probably few other reasons.

EyesFor1

ETF's do have an appeal for safety reasons.

Dangerous_Relief8971

Spot ETF inflows reversing while onchain stablecoin flows stay flat - that's the real tell that institutional money is still skeptical on duration. When big money gets committed, you see stablecoin preparation across exchanges, not suppression.

CrAZiBoUnCeR

If I had a coldcard Q and I’m not sure if I did the dice roll when I got it 2 years ago…what’s the next move? I totally understand why people would be more comfortable with an ETF

CrAZiBoUnCeR

If I had a coldcard Q and I’m not sure if I did the dice roll when I got it 2 years ago…what’s the next move? I totally understand why people would be more comfortable with an ETF

TheBot666

Might as well just do an ETF at that point

Badj83

Men I am so glad I sold the BTC I had on my coldcard to buy some ETF instead.

NuggedClarp

2035: ETF only!

Specialist_Trust4945

Guys... YOU decided to join a world were there is no appeal for scams. No one held you at gunpoint when buying Bitcoin let alone decide to self custody. If you want to self custody then take all the necessary precautions, otherwise keep it in a CEX or in a ETF. Deciding to self custody without being fully aware of what you're doing is just asking for trouble - and there we are.

No-Average3202

Appreciate the respectful reply, genuinely. Yeah im aware of both those risks, ETF price suppression and the confiscation angle. Also worth mentioning, im a cycle guy, this is my third bear market, i sell into the bull runs and rebuy during the bears, so for me this isnt some forever buy and hold position, its more tactical/cyclical. That probably changes the risk calculus a bit compared to someone planning to sit on it for 10+ years. For my situation the trade off made sense, totally get why it wouldnt for others tho.

n8dahwgg

No worries! Just understand that you’re the liquid float for ETF paper games, which is likely being used to suppress price against you. You are also substantially highly more at risk for a 6102 attack sometime in the future. Trade-offs to everything 🤷. I still strongly recommend everyone do the work and don’t be a bitch about it, but I also in the same vein recommend everyone do what is right for them while also understanding the trade-offs

genius_retard

FDIC insurance only protect you from the bank going bankrupt. If the custodian of an ETF gets hacked, robbed, or loses access it is not covered by FDIC. The ETF might have its own insurance but it likely only covers a fraction of their holdings.

Abject-Stretch-1187

They do carry insurance but SPIC only covers the broker and not the ETF holders.

stanley_fatmax

Safe? Yes. Right? You have to answer for yourself by asking what your reasons are and what risks you face. For some, ETFs and KYC custody is a non-starter just by personal conviction. Too many people burned by years of exchanges failing. The regulatory environment has changed though, businesses are licensed and accredited to be doing ETFs, custody, etc., in ways they weren't before. There's still some risk, but I believe the more risky option is self custody for most people. It's legitimately difficult to store your keys safely while also protecting them from yourself, and just losing them through mistake. In your case I'd say you're probably better off with a low cost ETF.

Specialist_Trust4945

Binance is not an ETF. Binance is a CEX (centralised exchange), an ETF is a financial instrument that tracks BTC's price such as [BITC](https://www.justetf.com/en/etf-profile.html?isin=GB00BLD4ZL17#overview) by CoinShares or [IB1T ](https://www.justetf.com/en/etf-profile.html?isin=XS2940466316#overview)by iShares aka BlackRock.

Long_Illustrator_988

Lol, confidently incorrect. The FDIC insures your bank account. SIPC insures your brokerage account from the malfeasance of your broker. There is nothing to insure you from the risk of the ETF custodian losing the bitcoin.

SoullessGinger666

Historical BTC lost by ETF's: $0 People like you are impossible to debate because comparing ETF ownership which is regulated by the SEC and insured by the US government, versus private custody with no Imsurance which has no regulation at all, is just mind boggling.

Abject-Stretch-1187

It’s this same level of confidence that got some people recently wrecked. Thinking ETF custody is 100% bulletproof is definitely a sure way to being rekt. 

SoullessGinger666

FDIC insured. Backed by the US government and teams of high paid cybersecuity experts whose sole purpose is to ensure the security of the ETF. No custody type is better than that.

loopala

ETF are for investing/speculating. Nothing to do with an alternative currency you can use to pay for things.

loopala

ETF are for investing/speculating. Nothing to do with an alternative currency you can use to pay for things.

eltuna3636

The “not your keys” crowd is already dwindling by the day, I predict that in 10 years almost all BTC will be held as ETF’s and that people using self custody will be viewed the same way as “cash under the mattress” types are today

Financial-Gap-6767

Split wallets, decoy wallet with main 24 eord, 25th word from that 24 string, always check tampering, if you can doversify via ETF, if you can, do not put all your eggs in the same basket. I might move my wallet again, im on a jade.

cytek123

This is exactly the problem with this - the average user needs a phd in tech to know how to be safe in this digital money economy, and why any average non-tech user is better off just buying a bitcoin ETF

ClearSnakewood

This Coldcard issue seriously damages the cold storage is safe belief While leaving coin on an exchange or keeping it in an ETF introduces a whole new set of fuckery and risks (paper Bitcoin, permissioned, fees, exchange blowup risks) and nearly eliminate all features what makes Bitcoin money. Bitcoin is a mine field rn…

_SpaceM_

I think ETF flows are more of a medium-term demand signal than a day-to-day price driver. If long-term holders, miners, early investors, or even market makers are supplying enough BTC, those inflows can get absorbed without a huge move

libertine88

Btc daily trading volume is $23 billion, a few hundred million in ETF volume will not move the needle that much

Specialist_Trust4945

Of course ETF flows don't matter. Whether people buy and sell through ETFs or straight from a CEX like Binance, what's the difference? I'll tell you: none.

BuyComprehensive6366

At this point the ETF just a liquidity sponge for big players who want a clean exit

effdanwo

With all the KYC/AML/SOF nowadays I don't see much advantage of holding BTC on a regulated exchange versus an ETF with simpler tax reporting from your broker. This isn't the Wild West anymore....the easy, no-questions-asked on/off ramps are all but gone.

theincognito66

bro - the bitcoin isn't in your house. It's on the blockchain. It's almost like you don't know what this even is. If you have the ETF, you don't own any real Bitcoin. You own exposure to it, yes - but you don't have the actual asset. Self-custody is pretty simple - you're overthinking it and spreading fear about worst-case scenarios

i_am_raa

Außerdem scheinst du nicht zu verstehen! Wenn interessiert die DTCC und FED? Nimm dein Geld in die Hand und kauf die Dumps und Dips. Sammel fleißig , sowie beim ETF Investment und verkauf wenn die Zeit kommt. Dieses Bild und der Text stehen für die Masse die hinter dem ganzen Projekt steht! Du als Investor hältst die Zügel und nicht die DTCC oder FED! „Mal sehen wie sich die DTCC entwickelt ….“ Wenn ich so eine Scheiße Lese muss ich kotzen.

Good_Extension_9642

And that's why I only buy BTC ETF to avoid this

Abject-Stretch-1187

ETF lovers aren’t even aware of this lol yet they claim they’re covered smh.

GeneralZex

SIPC covers losses from brokerage firms that held user cash and securities that failed. So if Vanguard went tits up people who held cash and securities with them would be covered up to the policy limits. It would not cover ETF issuer failure.

sma11kine

Theoretically if an ETF had its coins stolen, what would happen to that ETF? Isn’t it near the same scariness?

stoicparallax

Individuals can personalize their blend of self custody and ETF positions. Many understand this.

dkayt

This is why I buy the ETF, couldn’t deal with this stress or management.

SoullessGinger666

And yet the security of the ETF is infinitely stronger and safer than any other storage method. Few understand this.

DifficultSquash1517

Thats bad advice. I'm sure if his ETF got hacked that BlackRock will probably be "bothering" him right now to try to get his money back I'd imagine Fidelity and Robinhood and Schwab would also be bothering him 🤷 "Be your own bank" they said you'll just love it after all it's decentralized 🤷💪

BigDik6355

If everyone buys the ETF it defeats the whole purpose of Bitcoin. Few understand this.

DifficultSquash1517

Sorry this happened. I hope this inspires others to get out of self custody. Its so 2019 I know most people reading this think that it was this guy's fault or you're not that gullible or you're very careful etc etc. I don't know how you guys could sleep at night with lots of money sitting on these hardware wallets Every time I plugged in to mine back in the day my heart would skip a beat before the balance would show up you know sometimes it gets delayed it almost gives me a heart attack . ... Or you answer a passphrase and the wallet shows up zero and then you realize that you entered the passphrase wrong Unless you're in it for the tech and you're only in it for the price action just go with the ETF so you can sleep at night. And you could write covered calls on your positions generating 1 to 2% every month which is insane

thaneliness

So what exactly is the benefit of bitcoin versus investing in a ETF, where I know I’m 100% safe from bullshit like this? Honestly.

Left_Entrepreneur918

This isn’t looking good, people have been using cold card as the standard of privacy and security in btc. Usability was the thing that kept me from buying one, my bitcoins sitting on my ledger from 2020 lol and I just checked the balance after 3 years not looking to make sure it’s there. Goddamn maybe btc ETF is the way to go

MakCapital

You can buy and custody through any ETF provider. That's as ready as you can get. Not everyone is good at self custody, but having that option is valuable.

genius_retard

I wouldn't be surprised. They might have insurance in which case the EULA might say they are only responsible for as much as they are insured for or something. Also if you invest in Bitcoin ETFs you might think your investments are insured. They are insured against the investment bank going bankrupt but if the company doing custody for the ETF loses access to their wallets or gets haked/robbed your investment insurance won't cover it. The ETF needs to be insured against such losses.

Generationhodl

that would be very safe I agree, but I think hardware wallet with passphrase or multisig would be fine for most of the people, too. The non-tech-savy people will go into ETF anyway.

Important-Level6672

Because you guys are focused on price. Adoption and usage hasn’t changed since. ETF do not count since they are just another way of holding them.

Specialist_Trust4945

Just buy an ETF tracking Bitcoin and you're good to go, if you don't feel safe enough to self custody.

CortaCircuit

This is why people will move their Bitcoin to ETF, Fidelity Digital Assets, OnRamp Bitcoin and AnchorWatch... Or other custody solutions because it isn't worth the risk for most. 

Good_Extension_9642

A 51k mistake 😬 that's why I only buy BTC ETF now

Good_Extension_9642

And this is why I only buy BTC ETF now!

Emergency-Warthog-56

It just depends on where people's comfort zones are. It can be ETF, 401k, Private hold, Something through a bank. The possibilities will be amazing.

Emergency-Warthog-56

I wouldn't be so sure. Everything is still early and developing in real time. Policies and banks are slowly evolving with it in real time. There could even end up being actual bank wallets that have federal backing. There's already ETF's and 401k's are starting to look at it.

Worldly_Elephant9518

"your firm" in this case is the broker that holds your securities such as the ETF. Your broker is responsible to keep your securities, units of the ETF trust. The responsibility for holding the assets of the ETF itself (not the shares of the ETF, but what the ETF holds, in this case the Bitcoin), is with the ETF manager (like a BlackRock or Vanguard) and its custodian, not with your broker (a Robinhood or Ameritrade). SPIC kicks in if your broker screws up, not if the ETF manager screws up. If you buy shares of SpaceX in your Robinhood account, SPIC will not kick in if SpaceX screws up and the shares go down. It's the same thing with buying shares in an ETF. If you buy shares in a BlackRock Bitcoin ETF, and BlackRock screws up, you can sue BlackRock, but SPIC will not cover you.

Worldly_Elephant9518

An ETF is a trust. The trust has assets. If those assets get stolen, the trust can try to recover them, and you can sue the manager of the trust for mismanagement, but that is not covered by SPIC. If you hold a stock and the stock goes down because the company commits fraud, that has nothing to do with your broker or SPIC. SPIC protects you in case your broker goes bankrupt and misappropriates the shares in your account.

IFitStereotypesWell

Spain's largest bank is the latest to buy Bitcoin exposure via BlackRock's IBIT ETF.

IFitStereotypesWell

Spain's largest bank is the latest to buy Bitcoin exposure via BlackRock's IBIT ETF.

seiggy

Wasn't making a comment around self-sovereignty. Just simply stated that Bitcoin ETF purchased through a brokerage account is backed by SPIC insurance, so if the brokerage somehow lost the coins, you'd be insured up to $500k for your ETF with the brokerage. I made no such comment around if the trade off in risk mitigation was valuable, preferred, or not.

seiggy

Not talking about loss in value, talking about if something were to happen to the custodial wallet that the brokerage runs associated with your ETF purchase.

Worldly_Elephant9518

SPIC will not cover losses if your ETF goes down in value, it covers losses if you broker goes bankrupt

eightyWon

Very cool and clean! many of the things I like to check in on from time to time, all in once place. Couple other things you could consider including (if feasible), ETF flows from [https://farside.co.uk/btc](https://farside.co.uk/btc) and the halving spiral from [https://charts.bitbo.io/halving-spiral/](https://charts.bitbo.io/halving-spiral/)

berry-7714

Why not just buy the ETF?

seiggy

Typically brokerage accounts are backed by SPIC Insurance. So, if something happens, you're covered up to $500k in ETF securities per account.

TokyoLosAngeles

Aaaaaaaaand this is why I just stick with the Bitcoin ETF.

versace_dinner

Never invest what you can't afford to lose. Assuming you have a job that provides a steady source of income, I would put 1/3 of your money into an ETF like VOO, 1/3 DCA in BTC, and 1/3 keep to yourself for fun money (enjoy your youth). That's just an idea, you can divvy your income up however you'd like. This way, you have a solid, predictable investment for the future (VOO) in case you want to go to college later or start a business later in life. You also have a sizeable store in BTC, which could turn out profitable, but if not, you have a good alternative asset. I would also pick up a Trezor hardware wallet to store your BTC. If you DCA using River, you can set it up to periodically transfer to your hardware wallet. I set mine to transfer after I hit 0.01 BTC.

Thick-Ad5921

I was studying Bitcoin and buying Bitcoin in 2019. 1. Scotiabank Financial advisor said it was high risk because it was volatile. Six weeks later Scotiabank was buying spot Bitcoin ETF for their own balance sheet. The event was Canadian truckers convoy. When the Turd invoked the War Measures (Emergencies) Act and government froze the bank accounts of the truckers, protestirs and citizens that donated to the cause, I realized that Bitcoin was the only way to protect myself from shit people like the Turd and Canadian government.

GeneralComposer5885

I’m starting NOODLE ETF

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Post is by: CategoryEqual339 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1va5f31/anyone_else_noticing_the_ethbtc_ratio_behavior/ BTC pumps, ETH lags 36–48 hrs like usual, but the catch-up move is shrinking. Used to close 60% of BTC's gain, now barely 30%. ETF flows softer than expected, L2s pulling activity off mainnet, SOL still eating attention. Am I pattern-matching noise or is the ratio genuinely rolling over? What's your read going into Q3? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

sanjur0o

It’s already here. Anyone can buy Bitcoin through an ETF as part of their portfolio. It’s the first digital asset that can’t be duplicated, doesn’t have to be stored physically or carried around — you only need to memorize a seed phrase to access it anywhere in the world. It’s the perfect asset, and if all goes well, it will keep taking market share from gold. Using it as a means of payment? I do not see that happening at all.

Good_King9558

You should not love Bitcoin, bitcoin is not a person or a pet, is an asset, the same way a house or an ETF is, you should not love something like that. I hate that sense of community and love for something like that, is just an assset.

master-beast-72

The 4-year cycle has a mechanical component and a psychological component, and I think the mechanical part is weakening while the psychological part persists. **The mechanical argument**: Each halving cuts new BTC issuance by 50%. In 2012, that was a big deal — miners were selling a lot of BTC daily and cutting that supply in half had real price impact. By 2024, daily issuance was already tiny relative to circulating supply (~0.08% annualized post-halving). At some point the halving becomes a rounding error in actual supply dynamics, and that point may be approaching. **What actually drove 2024**: The spot ETF approvals hit in January 2024, months before the halving. BlackRock alone was absorbing more BTC per day than miners were producing. BTC hitting ATH *before* the halving broke the historical pattern for the first time. That's a structural shift — institutional demand is now a bigger price driver than the halving mechanism itself. **The psychological part holds**: Halvings are still a Schelling point that pulls retail attention back to crypto on a roughly 4-year cadence. Media coverage, new entrants, meme cycles — these still roughly align with the halving calendar even when the fundamental supply math matters less. Markets run on narratives as much as mechanics. My read: the cycle isn't dead, it's becoming noisier and more front-run. Institutional players anticipate it earlier, so price moves happen sooner and the post-halving peak gets harder to time precisely. "Bad at timing" is probably the more accurate framing.

fan_of_hakiksexydays

Yea everyone and their nan is definitely flocking to Ethereum and not AI or chips lol. The volume has dropped to less than half of what it was last year. It's still trending down right now as we're still down in volume by about 20% compared to about 2-3 months ago. ETF inflow has declined, and has dropped to less than 1/10th of the volume compared to last year. In 2026, there has been significantly more ETF outflow than inflow from Ethereum. Daily on-chain active users have declined, despite more on-chain transactions from dropping gas fees and the move away from layer 2s.

Oregon-izer

Im going to make one right meow…. The BTC ETF market has diluted BTC and we will never see explosive growth the way we have in the past… ETFs mean we no longer have 21million BTC we have infinite BTC…. BTC growth will more or less track the S/P from meow on. …. MEOW!

crimeo

That seems like simply misunderstanding how an ETF works. ETFs cancel out orders from their customers in opposite directions and only buy or sell the NET overall change at the end of the period. So ETF clients may have placed buy orders for 100,000 BTC (more than Saylor) but also placed sell orders for 93,000 BTC so the whole fund at the end just bought 7,000 net to even itself up.

Jogi1811

I'm chasing a Bitcoin ETF that pays dividends. Should get my principal back before next halving.

Jimmy8chelsea

Cheerful's ETF point matters; I'm bullish, calling 100k by late August.

CheerfulExplorer

Bullish, I'd guess 95-110k if ETF flows stay dumb. You trading August or just stacking?

Herosinahalfshell12

No theres a few black swan events to happen yet. Maybe MSTR dumps, maybe US govt abandons its BTC reserve, maybe a large ETF like Blackrock exit. Something that makes it seems like the end for real this time.

HammerFans

US government published national treasure policy. ETF and US public companies are doing Bitcoin acquisition and mining all the time. The world leader exchange USD into BTC. We have to follow it in case of money dilution. The smartest people do what we are going to do.

DonTheHolder

Buy all bitcoin in the ETF. SET IT AND FORGET IT.

paperlevel

BlackRock ETF, those guys don't play around, largest asset manager in the world, I knew then and there the big money is coming and no chance it's getting banned, which was my biggest concern up to that point.

TheresNoSecondBest

Exodus isn't fully open source, I would uninstall that asap. Congrats on the move, it's never too late, [despite new people thinking otherwise](https://old.reddit.com/r/Bitcoin/comments/rskpuf/i_have_only_600_bitcoinsi_missed_the_bus/). ONLY INVEST MONEY YOU CAN AFFORD TO LOSE. Invest in your knowledge, learn about Bitcoin as much as you can. The Bitcoin Standard book is a must read. So is Broken Money by Lyn Alden. Also, **don't reply any DMs**, emails, private messages on other social media, promising to buy Bitcoin from them or get rich quick by investing into some website. They all are scammers. Even the hot Asian chick, he's a scammer too. **Price wise, nobody knows what the price will be tomorrow, next week or at the end of the year.** **Try "Bitcoin ONLY" strategy for at least the first 210,000 block cycle**, you'll sleep much better. Newcomers lose so much money, holding tokens just because someone on YT told them to. If you don't like losing money in [failed coins](https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed), avoid. DCA is probably the best approach. Once a week works best for me, but I'm getting paid weekly. This [DCA calculator](https://21vox.com/dca-calculator) might help to decide what will work best for you. In a few years, even $10 dollars a month can make a massive difference. This [DCA blog](https://er-bybitcoin.com/) is pretty interesting too and compares buying bitcoin VS stocks. Now, don't buy some fake bitcoin at a spot ETF place or similar, **get the real thing** that you can withdraw anytime you want. Register at a proper exchange and buy real Bitcoin. Any of these will do [https://bitcoin-only.com/get-bitcoin](https://bitcoin-only.com/get-bitcoin) Install (or buy - in case you're getting Bitcoin in Thousands of $) one or more of these wallets. **A few good wallet choices:** [https://blockstream.com/app/](https://blockstream.com/app/) \- Top Security Features, Open Source and Non-Custodial [https://bluewallet.io](https://bluewallet.io/) \- excellent, easy to use wallet, Open Source and Non-Custodial [https://www.sparrowwallet.com](https://www.sparrowwallet.com) - top desktop wallet [https://electrum.org](https://electrum.org/) \- Solid choice, Open Source and Non-Custodial, one of the oldest and most trusted Bitcoin Wallets. I prefer the desktop version but it works on mobile too. **Lightning wallets** to consider (cheaper and faster transactions, great for small amounts): [https://phoenix.acinq.co/](https://phoenix.acinq.co/) \- Phoenix - very good wallet, uses Tor for extra privacy, easy for anyone new [https://blixtwallet.github.io/](https://blixtwallet.github.io/) \- Blixt - great UI, fast and clean. The app runs a full LND node on your phone and you have the ability to easily open channels to whatever nodes you like. [https://zeusln.com/](https://zeusln.com/) Zeus - impressive wallet with many features, can even generate Nostr keys [https://breez.technology](https://breez.technology/) \- Breez - excellent POS for small business owners as well as integrated Bitrefill Note: Breez does also a hybrid liquid/LN wallet called Misty Breez - the sats being on liquid means no need for channels although the payments take a few extra seconds. You'll also can get a free customable LN address. While talking about hybrid wallets, there's also Aqua Wallet although not IMHO as good as Misty Breez. There are also custodial LN wallet but I would honestly avoid using them because you have to trust the wallet operator not to steal your money. Their only advantage is that they are incredibly easy to use, although it might cost you big one day. To keep up to date with spending wallets, visit r/TheLightningNetwork at least once a while and perhaps r/RGB in the future. **Hardware Wallets** (to store larger amounts): [Trezor](https://trezor.io/) \- Easy to use, no matter how new in Bitcoin you're. If you can afford it, opt for Safe 7 (air-gapped) and use the Bitcoin only firmware as it's safer than a multi coin software. [ColdCard](https://coldcardwallet.com/) - air gapped, Bitcoin only, has advanced features but a new user will do fine with one of the great tutorials available. [BitBox02](https://bitbox.swiss/bitbox02/bitcoin-only/) - another great little device, opt for the more secure Bitcoin ONLY version (less coins = less code = less chance for a hidden bug or a backdoor). Sadly, this device is not air-gapped. [Jade](https://blockstream.com/jade) - air gapped, fully open source, Bitcoin only, great features. There's a newer version called Jade Plus, it has much better camera and overall is a better, although a bit more expensive, option. You can even [build it on your own](https://github.com/Blockstream/jade/), if you feel adventurous. [Seedsigner](https://github.com/SeedSigner/seedsigner) - another DIY, fully open source, air gapped, Bitcoin only hardware wallet, not for you if you're just starting up but something to consider later. [Krux wallet](https://selfcustody.github.io/krux/) - one more DIY hardware device, I love this one for many reasons. Similar to Seedsigner, it's fully open source, air gapped, Bitcoin only hardware wallet, that is not for you right now if you're just starting up, but something to consider at a later stage and/or to up the security of your bitcoin. There's also Ledger, but I wouldn't recommend it as it's not fully open source, keep and already leaked customers' details, recently said they're capable of sending customers' keys out just with a firmware update, making is an expensive hot wallet. The opposite of what you want from a cold wallet. **Stay away**, save yourself a headache in the future. The same goes for many other hardware wallets that are too new or filled with too much of unnecessary shitcoin code. Stay away. Whatever wallet you'll decide to buy, purchase DIRECTLY from the manufacturer, no eBay, no Amazon. Make sure the device is NOT preset, and you will generate your own seed words. Write them down on any piece of paper as well as the receiving address. Now wipe the wallet and generate a new wallet. If the seed words are different from the first set, you're safe to use it. Find an option to set a passphrase and use it. This will boost the security to another level. Never store the seed words and passphrase together. Use a different medium if possible. If somebody finds both, they'll be able to steal your coin. This little device will hold the keys to your money, that's the reason why you have to be a bit more careful. Also, no worries, if it breaks, you can replace it - as long as you keep your seed words and passphrase(s) safe. Welcome to the rabbit hole and don't hesitate to ask if you have any questions anytime during your Bitcoin journey. Also, [check the sidebar](https://www.reddit.com/r/Bitcoin/about) that's filled with lots of great info and if you have any questions, visit r/BitcoinBeginners or r/Bitcoin and look for the answers.

corporate-citizen

Bitcoin (+ some gold/silver and ammunition in case of the Mad Max scenario) is my retirement account and I’m meeting expenses in my retirement without touching that stash by selling the options on the highly liquid Bitcoin ETF: IBIT in my 401K. I consider diversification as tugging and pushing for mediocre returns. Why own an asset category which increases in value only to be counterweighted by another assets in my investments declining in value? Find your investment thesis and act on it. My thesis is monetary debasement, war and deterioration of debt.

TheBakedGod

Blackrock has a vested interest, like all the other companies on this list, in solving the quantum security problem. If people stop using Bitcoin, Blackrock can't collect fees on their Bitcoin ETF anymore. There's no reason why this would be bad for Bitcoin.

Romanizer

Let it grow. It will outgrow any other investment anyway, so why rebalance. I would rather check if it's better from a tax perspective to hold Bitcoin as an ETF and sell calls and puts during slower times.

JimmyWhatever

Good question. This is my first cycle as well. I’m curious, in past bear markets was there this “boring” feeling like , it’s not going to zero, but it’s not going up either? Kind of like this $58K-$65K it’s been stuck in now for a while? I realize in the past there wasn’t the ETF’s and institutional buyers there are now, but curious.

D3VOUR3DD

These are what I’m accumulating already Hyperliquid: has shown strength all bear market and once volume increases in a bull market their buyback/burn will increase dramatically and push up prices. Also to note their ETF has been the only net buyer in the bear market. Solana: has the most volume of any blockchain. If there was ever going to be real world utility it’s probably going to end up on solana Pump.fun: can’t deny the casino.. there is always going to be demand for a product like this. Even more once the market turns and everyone starts looking for the next cycles successful meme coins. They buyback as well and this will increase in the bull market. Lighter: formed a nice cup and handle chart pattern in the bear market. I expect the success of hyperliquid is going to drag some of the similar products with it. These DEXs could be one of the main narratives next bull market. Arbitrium: worth having some Eth exposure and this L2 is where robinhood has built. Robinhood will bring a lot of new customers into the crypto space and their volume should have a positive impact on the arbitrium price going forward

n8dahwgg

I do. But I run a bitcoin only hedge fund. And no ETF bullshit actual bitcoin.

FromtheBigO

Congrats! :) Def take a very long and clear minded look at your ultimate plan. Can you afford it lose this money? Can you afford to DCA and if so in what increments. Set up automation. Do you have a cold storage wallet? Vital to proper storage for Bitcoin. Especially if you’re HODL’ing because this is a very high conviction, long game. I have some building that goes to cold storage, but am considering doing all I do contribute to my BTC ETF holding. But that’s a personal matter, as well as some tax advantages and needed CSW upgrade. Do your best to do automation things you can afford, don’t check everyday/follow specific news about BTC etc. you’ll drive yourself crazy! Wishing you and everyone the best of luck!

50sat

There will always be a few of these, at least as long as infrastructure models for trad-fi still exist. Savvy investors will, perhaps more with crypto than with traditional equities, continue to index themselves. Unlike trying to match index PA you can group them and earn interim yields as well. https://ibb.co/v4qtJ4cd Depending on what you want to build around it. I accept some limitations to run a tax model on the side that converts yields atomically to ETH and stores them in a communal buyback contract. In this way the tokenized index gets the PA sharing action of an indexed instrument, with an additional risk/reward layer (can't ignore it) that earns yield without speculating on re-composition. Depending on your arrangements (I put some locks right now) the ability to manage to news and rapid changes in defi markets is also a plus. IMO crypto, and specifically smart chains, offer so much more usability over a traditional index ETF that it's worth the extra management even with relatively small bags. I think that in the current markets, crypto index ETFs are ok for a tradfi investor who has sufficient money to pay management fees while they sit on idle capital. More active investors will move as the space evolves and offers better opportunities.

ubermensch1001

Exactly, man. The reality is that the Bitcoin rich list is giving numbers that are reasonably close to the actual holders. The overwhelming majority of people who "own" Bitcoin mostly likely have it on an exchange, an ETF or maybe on something like robinhood, and this also is a broad encompassing term for anyone holding crypto. Most of these people also own relatively modest amounts as well, not many are going to have 5 or 6 figures locked away. The people that are actually going out and buying wallets to lock BTC into cold storage are in the minority. Also, I could totally see why someone with say .15 or .3 would just have it all on one wallet, it really doesn't make sense for them to juggle multiple wallets and needing to worry more about security, losing seeds, etc. In fact, I'd actually say that you are probably safer with FEWER wallets/addresses than more because of user error. Hell, supposedly Trump has 2 wallets, and he has way more than 99% of people using self custody.

fan_of_hakiksexydays

ChatGPT literally told you no: >"So the practical answer is: **for ordinary retail investors, no US BTC ETF lets you withdraw BTC directly to a blockchain wallet"** Also, fractional reserve doesn't work the way you describe it, and ChatGPT also explained that in the answer. They don't buy Bitcoin whenever you withdraw, that would be too late. They keep a reserve: "The exchange keeps only a **liquid reserve** in its wallets" and a reserve to that reserve: "The rest may be in cold storage". So when you withdraw it comes from one of their reserves. But yea, they do periodically replenish their wallet every now and then. But not as much when we're in a bear market. In a bear market they need more cash, and have too many coins. So they'd be selling their coins.

fan_of_hakiksexydays

ETF is not something you withdraw to a wallet. You get the cash or the ETF, not the crypto. And CEX is not paper. If you buy a BTC, you actually have a BTC you can withdraw. And the price goes up when you buy, not when you withdraw.

JesseJerrellBass

I buy long-term options on IBIT with extra money, two years out. It's Blackrocks spot ETF on BTC

Unlikely-Kick-717

Investing is not supposed to be painful. Just buy ETF stocks and enjoy your rich life.

LocksmithAware4210

IBIT is literally just a Bitcoin ETF it should match it perfectly

IM-PT24

50/50 between Bitcoin and All World ETF.