Not extremely familiar with the spot BTC ETFs as opposed to BTC.
But, for instance, today BTC has risen almost 1.5% but the spot ETFs are far more flat. What's the point in investing in spot BTC outside of a 401K or IRA? Seems like purchasing actual bitcoin in a private wallet is a better idea, especially since you also own the actual BTC.
Seriously though, what is the point of holding spot BTC ETFs outside of a tax advantaged account? Especially since it doesn't move 1:1, seems like there's a lot of profit being left on the table by purchasing spot BTC.
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