Do they have to go through the same shit that the Winklevoss twins had to go through to get a Bitcoin ETF approved or can they just launch such a service?
It has to be approved by US regulators, so no matter how great and exciting this news is, it only holds value at the time this type of financial product is approved. In easy terms, their expectations of launching in Q4 of this year might turn out to be way off -- everything is basically in the hands of US regulators. It however is a major difference that this is coming from a well known player in the financial world, and not from eccentric entities such as the Winklevoss twins. Chances for an approval are way higher than ever before, but I prefer to remain conservative till it becomes reality. I add value to actions, not to words.
