Silbert said the Trust is receiving increased interest from registered investment advisors and wirehouses because, at the moment, bitcoin cannot be placed on traditional brokerage statements, but ETFs do not have that problem. Accredited investors can invest in the Trust through their IRAs and 401(k)’s, according to SecondMarket. [Bitcoin ETF to List on Nasdaq]

“Through established relationships our Authorized Participant has with the major bitcoin exchanges and large private pools of bitcoins, the BIT is able to offer a weighted price that reflects a more accurate market view. Investors can buy shares in the BIT at a set price and without having to transact in a fragmented and highly illiquid market with unregulated and newly established entities,” according to the Trust’s web site.

On Friday, the US Marshals Service will auction off nearly $18 million worth off seized bitcoin, an event that some market observers believe could further legitimize the digital currency.

ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of GLD and SLV.