The idea of a Bitcoin ETF initially had its detractors because of the currency’s opaque and unregulated market. However, the SEC acknowledged Bitcoins can be considered currencies and therefore would fall under that agency’s regulatory purview. [Bitcoin ETF: How Crazy of an Idea is It?]
“The vision of the exchange traded product is to create a simple solution to the problem of buying Bitcoins if you don’t want to purchase and store them,” said Tyler Winklevoss in a telephone interview with ETF Trends in July.
Some investors probably wish a Bitcoin ETF was available in January when the currency traded below $14. At this writing Monday afternoon the Bitcoin/U.S. dollar pair (BTC/USD) traded around $658.
BTC/USD
