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ETH: Because Who Needs Actual Ownership When You Can Just Trust Some Algorithm With 3 Billion Dollars Worth of Your Money

AltcoinsBitcoinCrypto News 1 Barry Thompson August 16, 2024

An illustration depicting an empty wallet with its zipper open revealing nothing inside but two algorithms floating above it holding briefcases filled with money while ether tokens float around them; one algorithm is shown looking at a computer screen displaying the market capitalization and exchange rates. The scene takes place in front of a cityscape background representing financial markets, with buildings labeled as exchanges and trading platforms. In the foreground, there are scattered papers on the ground showing various cryptocurrency prices and charts.

Let me tell you something about these so-called “Ethereum ETFs”. They’re just fancy ways for investors to throw their money at Ethereum without actually having to buy it directly. And what do they get? A bunch of numbers on a computer screen that say “2.91 million ETH” or whatever, but in reality, those are just arbitrary values created by some algorithm somewhere

Source: bitcoin.com

2.91 Million ETH Held by 9 Ethereum ETFs: A Reserve Overview
https://news.bitcoin.com/2-91-million-eth-held-by-9-ethereum-etfs-a-reserve-overview
Although the data for Thursday’s ether exchange-traded fund (ETF) performance, concerning inflows and outflows, remains incomplete, it is evident that trade volume was marginally lower than the first two days. The funds currently hold slightly over $9 billion in ether, with about 2.91 million ether secured. As of July 25, each web portal associated with the nine ETFs displays the fund’s ethereum (ETH) reserve holdings. Post-trading session, the funds update […]

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About the author

Barry Thompson

Barry’s crypto nightmare began when he bought Bitcoin at $3, thinking he’d stumbled upon the financial opportunity of a lifetime. He sold his stash at $100, only to watch in dismay as Bitcoin soared to absurd heights. Now, Barry channels his rage into scathing articles about the crypto circus, seething with resentment at the digital gold rush he barely missed. His motto: “I sold out at $100, but the joke’s on me because the real joke was believing in this absurd circus.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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