So each share is 0.01 btc initially, but what is a basket: 50000 or 500000 shares?
If 50000, then it is 500BTC equivalent, pretty steep level for conversion.
If it is 500000, then no retail will ever convert a basket to btc as it will be above $5mil at current prices.
ETFs are targeted at high networth investors that can comfortably upto 50000 blocks of shares from the fund company and not just for every trader out there unless a brokerage company comes in to play the middleman.
Overall, I want to believe that the ETF stands some good chance of getting approved going by Trump’s stance on reducing the burden of regulation in the U.S. and a number of bitcoin enthusiasts that are close to the sit of power.
Published at Fri, 17 Feb 2017 21:05:53 +0000
