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<p>I had to read this twice and then still put it through ChatGPT to explain more simply lol its a bit dense but this means:

Bitcoin ETFs may reduce how much ETF demand actually turns into real Bitcoin buying, and its less that Jane Street and others suppress price purposefully  and more that the system allows them not have to buy BTC

Authorized Participants (like JAne street and other firms)  can short ETF shares and hedge with futures instead of buying real Bitcoin.

This structure means ETF inflows ≠ guaranteed spot demand

which is kinda fucked if you ask me</p>

I had to read this twice and then still put it through ChatGPT to explain more simply lol its a bit dense but this means:
Bitcoin ETFs may reduce how much ETF demand actually turns into real Bitcoin buying, and its less that Jane Street and others suppress price purposefully  and more that the system allows them not have to buy BTC
Authorized Participants (like JAne street and other firms)  can short ETF shares and hedge with futures instead of buying real Bitcoin.
This structure means ETF inflo

I had to read this twice and then still put it through ChatGPT to explain more simply lol its a bit dense but this means: Bitcoin ETFs may reduce how much ETF demand actually turns into real Bitcoin buying, and its less that Jane Street and others suppress price purposefully and more that the system allows them not have to buy BTC Authorized Participants (like JAne street and other firms) can short ETF shares and hedge with futures instead of buying real Bitcoin. This structure means ETF inflows ≠ guaranteed spot demand which is kinda fucked if you ask me

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