Famous Bitcoin analyst Plank explained that he carries all Bitcoin assets from his own storage wallet to Spot Bitcoin Stock Exchange Investment Funds (ETF). Plank said that he wanted to manage Bitcoins as traditional beings. Plank, on February 15, said in his sharing over the X, using the statements of “I don’t have a maxi anymore ,, he said that he carried Bitcoin assets to Spot BTC ETFs and thus manages the same way as stocks and bonds.
Instead of the use of special keys, “peace” preference
Analyst said that not to deal with special switches “peace”. Bitcoin maximalists argued that investors should control their own special keys instead of keeping their assets on central stock exchanges, but plank said that this method has risks for security. According to Blockchain security company Cyvers, in 2024, crypto pirates stole more than $ 2.3 billion dollars in 165 different cases. This figure points to a 40 %increase compared to 2023.
On the other hand, Lucas Kiely, the chief investment manager of Yield App, said that there is no big difference between Spot Bitcoin ETFs, futures ETFs and direct BTC investments, but the basic difference is in management fees.
PLANB’s decision led to controversy
PLANB’s decision to switch to ETFs encountered different reactions of 2 million followers. Some users who emphasized the importance of keeping their own keys in the BTC ecosystem criticized the analyst’s decision, and argued that PLANB ETFs were a logical step in terms of adoption of Bitcoin. Stating that there is a taxpayer in the Netherlands, Plank added that moving Bitcoins to ETF does not create a taxable transaction for him. He announced that there is no capital earning tax in the Netherlands, but around 2 %of the total value of the assets was paid an annual length tax.
Interest in Bitcoin ETFs is increasing
Bitwise Investment Chief Matt Hougan predicts that Spot Bitcoin ETFs in the US can receive more than $ 50 billion by 2025. Hougan said that Spot Bitcoin ETFs have only 4.94 billion dollars in entry in January and this speed could reach $ 59 billion per year. In December with Bitwise’s research president Ryan Redussen, he claimed that his interest in BTC ETFs in 2025 would leave behind 2024.
