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Yeah, we're not exactly seeing a major rush by wall street or pensioners to get in on coins right now. Guess we're gonna need that license to get this brokers and hedge funds buying on a much larger scale.
Wall St are not going to get in on BTC paying 2-2.5% annual fees. Ain't gonna happen. The might try and sell it to pensioners and take their cut on top. But buying these vehicles outright other than just to trade and provide liquidity to clients is not going to happen. They are not fools. More than likely they will start their own ETF's, not buy into another one. That way they can leverage their brand. Perhaps that is why the Winkel's EFT is ont getting cleared
Wall St is getting in at ground level in second round funding of start-ups with an eye to IPO's - that is where they will make their killing, if they can create a gold rush of IPO's in which they have a stake, hype it, pump it, flog it.
For one, GBTC is a pink sheet... the penny shares. Pensioners are the last people you would see jumping into penny stocks (hopefully). Too small for more than a couple of hedge funds to want to dabble in. It still has a 20% premium compared to its underlying, worse than a bitcoin atm. I think the interest on these paper bitcoins is from bitcoiners, ones that want the simplicity of holding them in traditional brokerage accounts.
Joe Blow public looks at a chart, sees an 80% decline after 18 months. The main things they've read are mtgox poofing with $400 mil, and silk road, making them rightfully a little nervous and/or uninterested.
The big nasdaq, not nordic, is where you might see some real volume in some shares/notes. I've not been overly encouraged by the KnC ETN launch's volume, but then again, it's not a huge market.
At least the exchanges, NYSE with their coinbase investment and now ticker, nasdaq with the private markets settlement pilot, are signaling and showing the SEC they are interested. There is a chance that COIN will launch after bitlicense, then gemini, but there's a lot of ifs there.
Importantly, these tunnels into mainstream investment channels are being built before the next bull run. A bull run that lately appears like it may not happen until the halving, from a lower starting point, if at all.
)and live from that money on my own private island for the rest of my life. No further plans. 
