FYI: The digital currency bitcoin is one of the hottest things on Wall Street, just as exchange-traded funds have become the most popular investment vehicle around. However, despite what is seen as heavy interest and pent-up demand, investors shouldn’t expect the two to be combined soon.
A bitcoin-tracking ETF has long been seen as a Holy Grail by both ETF sponsors, who could garner hundreds of millions of dollars in assets from investors who want an easy way to get exposure to the highflying cryptocurrency, and by the bitcoin community, which would view an ETF as a mark of further legitimacy. There have been a number of bitcoin ETF applications from multiple sponsors, but several applications have been pulled in recent days, including at the request of the Securities and Exchange Commission, a sign the SEC is unlikely to approve such a product soon.
Regards,
Ted
https://www.marketwatch.com/story/the-prospects-for-a-bitcoin-etf-look-dead-in-the-water-2018-01-10/print
