"It’ll be the adoption of a tokenized form of gold. Which won’t happen until cryptocurrencies have their day."
What I meant here is that tokenized gold (ie - PAXG) won't see mass adoption until crypto has its day of adoption. You can't have the cart in front of the horse here... the cart is tokenized gold, the horse is crypto adoption.
The gold ETFs you analyze are physically-backed ETFs, right? Whether an ETF is physically-backed or futures-based seems important. Is it possible that the gold spot price hasn't moved in the last decade because the volume of trading on futures-based ETFs over the period has grown to dwarf the physical ETFs over the period?
thank you. It is like a gospel to me.
Interesting article...
PAXG is already a gold backed tokenized product
"It’ll be the adoption of a tokenized form of gold. Which won’t happen until cryptocurrencies have their day."
What I meant here is that tokenized gold (ie - PAXG) won't see mass adoption until crypto has its day of adoption. You can't have the cart in front of the horse here... the cart is tokenized gold, the horse is crypto adoption.
The gold ETFs you analyze are physically-backed ETFs, right? Whether an ETF is physically-backed or futures-based seems important. Is it possible that the gold spot price hasn't moved in the last decade because the volume of trading on futures-based ETFs over the period has grown to dwarf the physical ETFs over the period?
Very possible. Definitely some gold bugs out there that believe that. I don't know if it is or is not enough to impact the market.