Debate in the Bitcoin Community: Concerns Over New Investment Instrument

In the midst of the ongoing excitement surrounding the approval of spot BTC-ETFs, concerns are growing among experts about this new investment instrument. Joseph Tetek, a specialist from Trezor, recently expressed his opinion, suggesting that industry funds could significantly distance market participants from the independent storage of assets. Furthermore, he raised concerns about the potential emergence of "millions of unsecured bitcoins," a scenario that goes against the core principles initially laid out by Satoshi Nakamoto.

Tetek's rhetoric has sparked extensive discussions within the community, with many users believing that the Trezor representative is intentionally discrediting industry funds. David Gerard, the author of "Attack of the 50-Foot Blockchain," disagrees with Tetek's arguments. He stated, "It is unlikely that ETF operators will create unsecured BTC equivalents. Regulated financing will be carried out by major management organizations. Therefore, I do not consider unsecured ETF shares as a realistic threat."

Bloomberg analyst Eric Balchunas drew parallels between spot BTC-ETFs and gold, emphasizing the technical similarities between these instruments. According to the expert, asset management companies are "vulnerable" to Bitcoin's high volatility. Hence, it is in their interest to acquire and hold BTC coins to protect themselves from unexpected price fluctuations.

The cryptocurrency community is eagerly awaiting the imminent approval of spot Bitcoin funds. According to Bloomberg analysts, this is expected to happen as early as January 10, 2024. It is quite possible that the U.S. regulator, the SEC, will ratify several requests simultaneously. This new instrument will provide large companies and investors with a safer way to engage with the cryptocurrency market segment.