[Analysis] Facebook takes on ETF giant Blackrock, with a fixed income ETF called Libra

Facebook's Libra is high fee ETF if private keys aren't distributed, according to BitMEX Research. Although Facebook's consumer reach gives it an advantage over similar ETF's like Blackrock's AGG, a lack of return yield makes Libra a poor alternative. If digital signatures are kept in a meaningful way, Libra does bring valuable cryptocurrency features like pseudonymity, censorship resistance, and tradability with other digital assets. Still, an unclear investment motive and governance by a democratic foundation only make matters worse in the midst of an overcrowded ETF market.