[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![DeFxsage Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1437315689052790787.png) Defxsage 👾 [@DeFxsage](/creator/twitter/DeFxsage) on x XXX followers
Created: 2025-07-26 00:49:20 UTC

@NateGeraci @EricBalchunas Fair point!
ETFs bring structure and transparency.
If it’s 1:1 custody, calling it “paper BTC” just clouds the real conversation.


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948908461397533129/c:line.svg)

**Related Topics**
[bitcoin](/topic/bitcoin)
[coins layer 1](/topic/coins-layer-1)
[coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem)
[coins pow](/topic/coins-pow)

[Post Link](https://x.com/DeFxsage/status/1948908461397533129)