Bitcoin Maxi Raises Suspicions Against Government Seizure of Bitcoin ETF After Launch
While Satoshi Street eagerly awaits the launch of the first Bitcoin ETF, Bitcoin maximalist Max Keizer is raising red flags against the financial instrument.
Will the US Government do it? Confiscating Bitcoins?
Bitcoin advocate Max Keizer has expressed concerns, arguing that BTC ETF (Exchange Traded Fund) holders are not protected against potential state capture. Keizer claims that the US government intends to seize all Bitcoins held in ETFs and suggests that the driving force behind such a move is national security interests.
He also cited an excerpt from the Valkyrie Bitcoin Fund Form S1 Registration Statement stating that a U.S. federal regulator could force the Trust to liquidate, “seize,” “seize” Bitcoin and “restrict” access to the Trust’s assets.
Keizer argues that this would be very contrary to the decentralized nature of Bitcoin. Note that the Spot BTC ETF issues shares in exchange for purchases of physical Bitcoin. However, unlike self-custody, it remains with designated custodians. Recently, the SEC veteran criticized Bitcoin ETF applicants, calling them opportunistic.
James Seyffart, senior ETF strategist at Bloomberg registered: “No matter how strange it is, I think this possibility could be very strange. First criticism of Bitcoin ETFs I’ve seen from Max lately that I guess are technically correct?
However, Seyffart added that they should avoid investing in the BTC ETF if they have concerns about the Government. wanting to take precautions against takeover or social collapse.
Gold ETF vs Bitcoin ETF comparison
It is debated whether BTC ETF will capture the same excitement as Gold ETFs. So, whether they will offer the same level of security as Gold ETFs.
Bloomberg ETF strategist James Seyffart weighed in on the comparison between gold ETFs and Bitcoin ETFs, arguing that gold ETFs face more potential problems, including concerns about impurities and counterfeit bars. Seyffart emphasizes that a BTC ETF, especially one with proof of reserves and transparent practices such as address sharing, may carry less risk than gold ETFs.
But a user named Bitcoin Lens on the “They will be.”
Responding to this, Seyffart said: “I wanted to say. Certainly. The same can be said for gold in vaults. It’s literally happened before. But nothing about the ETF should stop you, or anyone else, from holding your B on it.itcoin in cold storage. “That’s my goal.”
✓ Share:
Bhushan is a FinTech enthusiast and has a good ability to understand financial markets. His interest in economics and finance draws his attention to the emerging Blockchain Technology and Cryptocurrency markets. He is in a constant learning process and motivates himself by sharing the knowledge he has acquired. In her spare time, she reads thriller novels and sometimes explores her culinary skills.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
#Bitcoin #Maxi #Raises #Suspicions #Government #Seizure #Bitcoin #ETF #Launch
