Imagine you have a big box of toys (the ETF). People can buy pieces of the box with money (cash) or by trading their own toys (in-kind).
- Cash: People give you money to get a share of your toy box. You use this money to buy more toys to keep the box full.
- In-Kind: People give you toys that are just like the ones in your box. In exchange, you give them a piece of your toy box. This way, the number of toys in your box stays the same.
So they actually wanted people to buy BTC ETF shares with BTC?
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