Don't Buy Bitcoin ETFs

[RSRS]

The below is a direct excerpt of Marty's Bent Issue #1098: "Don't buy bitcoin ETFs." Sign up for the newsletter here.

It finally happened. The SEC has given the market permission to offer Bitcoin ETFs to investors. This is something that many in the Bitcoin space have been anticipating for the better part of a decade. The Winklevoss twins wanted to launch one in 2013 but were cock blocked by the SEC. Since then there have been many more times when people thought we were "just days away" from getting ETF approval, but it never seemed to come to fruition.

That all changed this week when the SEC decided to give the green light to the exchange traded fund world to offer bitcoin products. As you can see from the tweet above, ProShares was the first to the bell with their Bitcoin futures ETF which launched this morning. Now, this may be a significant cultural moment for Bitcoin. Love it or hate it, it's hard to deny that having Bitcoin ETFs on the market won't act as a social stamp of approval for many skeptics out there. With that being said, your Uncle Marty is here to tell you not to buy any Bitcoin ETFs, but especially not Bitcoin ETFs that are based on bitcoin futures contracts.

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