GM.

It’s Arsen, bringing you the 20th edition of TLDR Bitcoin - the newsletter that’s like your favorite underwear. You always keep coming back to it.

First, happy Sunday to 1,626 of you reading today.

Today I will be explaining that crazy title that brought you here. No, it’s not clickbait.

Before that, I want to tell you about the guide I just wrote on having a killer social media presence for your Bitcoin business (also applies to personal accounts).

Tried and tested in my role as the social media lead at Relai. You can read it on my friend Alex’s blog.

Lastly, I’ve switched my email too so don’t be surprised if the email looks a bit different.

Alright, let’s talk about Bitcoin ETF.

Estimated read time: 1 minute and 55 seconds

Two things have been promised to bitcoiners since the beginning:

1. Girlfriends

2. Bitcoin ETF

You’re still not getting a girlfriend, but you might get a Bitcoin ETF.

And not from any random fund. Blackrock, the world's largest asset manager, has officially filed for a spot ETF. They control a measly $10 in assets. They also probably own the building you’re living in right now.

This was Larry Fink, the founder, and CEO of Blackrock, in 2018:

Fast forward to today, Larry is one of Bitcoin’s biggest cheerleaders, pushing Bitcoin adoption through his company.

Need more proof? BlackRock holds a 6% stake in MicroStrategy, worth $160 million. So yeah, they’re pretty bullish on the orange coin.

In my last newsletter, I explained why Bitcoin, unlike other cryptocurrencies, is not a security. The fact that a giant regulated financial powerhouse like Blackrock is applying for an ETF should end that debate.

This will also silence everyone else who was cheering for the SEC to come after bitcoin.

Before: “SEC will shut down Bitcoin!!1”

Blackrock files for the ETF

Now: *crickets*

^{So how likely is the Bitcoin ETF?}

Very. They have a record of 575-1 for getting ETFs approved by the SEC.

That’s a 99.8% success rate. These guys don’t miss.

The fact that Blackrock is applying now means they know something you don’t. They also know there is a lot of demand for such a product. Otherwise, they wouldn’t be doing this.

A Bloomberg ETF analyst, Eric Balchunas, predicts that over $1 billion will flow to the newly approved Bitcoin ETF within 24 hours. Wild numbers.

But wait, there is something even better than a Bitcoin ETF!

Bitcoin. I’m talking about holding actual Bitcoin. Here’s how holding Bitcoin ETF compares to other BTC-related assets:

Pick your poison. I know what I will do: hold my own private keys deep in cold storage.

What makes me happy is knowing that plebs like you and I can front-run massive institutions like Blackrock. What a beautiful time to be alive.

While this news is bullish for the Bitcoin price, don’t lose focus. Bitcoin ETF is not real Bitcoin. Let me repeat: Bitcoin ETF is NOT real Bitcoin.

They will also partner up with Coinbase for the custody of Bitcoin. Both institutions might rug-pull you at ANY moment.

Don’t trust Blackrock.

Don’t trust Coinbase.

Don’t trust Brian Armstrong.

Don’t trust Larry Fink.

Don’t trust. Verify.

Job of the week

Breez, the lightning pioneer, is looking for a Biz Dev lead to spearhead the adoption of LN and onboard the next generation of businesses on the Bitcoin second layer.

B2B lightning solutions are suuuper early. Don’t sleep on this opportunity.

From the archive

Afghan women using Bitcoin 9 years ago.

Price of Bitcoin: $600

Beautiful.

That’s it for this one.

If you like what you read, please do “add to address book” or reply to this to this email (it helps with email deliverability). If you don’t, you can unsubscribe below.

See you next Sunday,

Arsen

PS: Enjoy the newsletter? Please forward it to bitcoiner. It only takes 5 seconds. Writing it takes me 5 hours.