Dafar
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July 28, 2016, 08:03:38 PM

Bitcoin ETF approval within 5 months.

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A new exchange traded fund designed to track the price of Bitcoin may be on its way to market. New paperwork has been filed with the SEC for the new ETF, titled Solid Bitcoin Trust, according to reports from ETF.com.

SolidX Partners Inc. says the Bitcoin within the ETF will be insured in case of theft, destruction or computer fraud, with the Bank of New York Mellon acting as custodian.

The new fund requires a rule change filing with SEC by the carrying exchange, due to Bitcoin’s status as a new asset type. The fund will kick off with an initial offering value at around $1 million.

Approval is pending based on the approval of the rule change filing; a precedent has since been set by the Winklevoss Bitcoin ETF, which the infamous brothers filed for on June 30. It’s anticipated that fund will receive approval by the end of 2016, with the SolidX ETF receiving approval by early 2017.

http://www.wealthprofessional.ca/news/etfs/new-bitcoin-etf-on-its-way-to-market-211198.aspx

Wasn't the Winklevoss ETF supposed to be approved by 2014? Then again by 2015? Now by the end of 2016? I keep hearing the same thing every year... what's different this time?


Also, didn't the Winklevoss release their ETF called Gemini? Or is that just an exchange? I'm so confused because I've been hearing about the same ETF for the last 2 years and nothing changes


Did someone promise you something too? 


Try a little harder with your nonsense.

By now, even the biggest of idiots have figured out that Gemini is an exchange and an exchange is different from an ETF.

We could have given you a pass for these kinds of questions a year ago (when Gemini first came out), but a year later, come on?


What nonsense you stupid motherfucker the Winklevoss ETF has been in the news as "soon to be approved" since 2014, I'm just asking how this news is any different.... it's the same shit over and over again. If I remember it was supposed to be approved by the end of 2014

Why are you so pissed, you on your period? Don't ever talk to me like that again bitch boy