[2017-09-24] First Bitcoin ETF to Launch in Canada

[sheld0n]

First Bitcoin ETF to Launch in Canada
Evolve Fund Group Inc. is a financial corporation that is based in Canada. According to a recent report, the Canadian finance firm has filed a preliminary prospectus for Canada’s first Bitcoin ETF. The Bitcoin ETF is going to be called “BITS” and will be an easy and fast way for stock investors to indirectly invest into the decentralized cryptocurrency. Bitcoinist

[Samarkand]

First Bitcoin ETF to Launch in Canada
Evolve Fund Group Inc. is a financial corporation that is based in Canada. According to a recent report, the Canadian finance firm has filed a preliminary prospectus for Canada’s first Bitcoin ETF. The Bitcoin ETF is going to be called “BITS” and will be an easy and fast way for stock investors to indirectly invest into the decentralized cryptocurrency. Bitcoinist

They have only filed a preliminary prospectus.

In my opinion, this news is too sensational. Filing a prospectus doesn´t even mean
that the regulatory bodies will approve the ETF in the end.
Even if the ETF will eventually be approved we are likely looking at a launch date that is
years into the future. Because of the novelty of such an ETF the commission will
probably take more time to review the proposal compared to the review
of traditional ETFs.

[1Referee]

Definitely a click-bait title. I don't see any reason to celebrate anything till it's actually approved, and if we look at how the previous ETF's were rejected, I don't have any sort of hope for this one to make it through. I think if we want to massively increase the chances of having at least one Bitcoin ETF approved, we should see more regulations kick in, because at the end of the day, Bitcoin's unregulated nature was the main reason the previous ETF's were rejected. If this market opens up for institutions to start opening up positions, we'll be shooting through record high after record high in a very quick fashion. Institutional capital moves mountains, and that's the moment people here will regret not having kept their coins longer, or bought more at current levels.