While an ETF related to bitcoin or any other digital currency still does not exist in the U.S., a recent survey by Bitwise Asset Management indicates plenty of U.S. investors would use such a vehicle to access the world’s largest cryptocurrency.
“58% of American investors would prefer to invest in Bitcoin via an exchange-traded fund (ETF), a formal survey found,” according to NewsBTC.
Earlier this month, San Francisco-based Bitwise Asset Management, a leading provider of cryptoasset index and beta funds, announced that it filed an initial registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) to bring a physically held bitcoin exchange-traded fund (ETF) market.
The proposed ETF would track the Bitwise Bitcoin Total Return Index, produced by Bitwise Index Services, LLC, which seeks to capture the full value of an investment in bitcoin, inclusive of meaningful hard forks.
Some digital currency market observers have long viewed U.S. approval of a bitcoin ETF as pivotal to increased adoption of the cryptocurrency.