When I first read it I thought it was a scam. Blackrock is offering one of these, it's legit. Why the hell are the SEC allowing it now in the year of our lord 2024? Is the growth machine really that stagnant that they need this?
Welcome to c/news! Please read the Hexbear Code of Conduct and remember... we're all comrades here.
Rules:
-- PLEASE KEEP POST TITLES INFORMATIVE --
-- Overly editorialized titles, particularly if they link to opinion pieces, may get your post removed. --
-- All posts must include a link to their source. Screenshots are fine IF you include the link in the post body. --
-- If you are citing a twitter post as news please include not just the twitter.com in your links but also nitter.net (or another Nitter instance). There is also a Firefox extension that can redirect Twitter links to a Nitter instance: https://addons.mozilla.org/en-US/firefox/addon/libredirect/ or archive them as you would any other reactionary source using e.g. https://archive.today . Twitter screenshots still need to be sourced or they will be removed --
-- Mass tagging comm moderators across multiple posts like a broken markov chain bot will result in a comm ban--
-- Repeated consecutive posting of reactionary sources, fake news, misleading / outdated news, false alarms over ghoul deaths, and/or shitposts will result in a comm ban.--
-- Neglecting to use content warnings or NSFW when dealing with disturbing content will be removed until in compliance. Users who are consecutively reported due to failing to use content warnings or NSFW tags when commenting on or posting disturbing content will result in the user being banned. --
-- Using April 1st as an excuse to post fake headlines, like the resurrection of Kissinger while he is still fortunately dead, will result in the poster being thrown in the gamer gulag and be sentenced to play and beat trashy mobile games like 'Raid: Shadow Legends' in order to be rehabilitated back into general society. --
Wtf is an ETF?
Collection of finance stuff (stocks, bonds, derivatives, currencies) that someone like Blackrock sells to you but they manage.
These ones are tied to crypto currency markets, so it involves companies that do bitcoin stuff (like coinbase, or Nvidia who sell mining cards, or companies who do the mining). It's so fund go up when crypto go up, fund go down when crypto down, but it's not directly tied to bitcoin so it's supposed to be less volatile.
It's usually cheaper to buy ETF shares because instead of buying whole shares, you're buying a piece of a medley. And blackrock gets to manage more money (and steer the economy) and make themselves money off of what they think it makes sense to hold, and also make management fees.
The most efficient economic system, folks
wait until you learn how derivatives work, it's like if athletes were allowed to bet on their own sports and teams. Literally gambling, but on stonks and agricultural output.
I wanted to learn how this shit works, and the more I speak the language of the finance bros the dumber it is.