However ETCs are way different compared to what the institutional investors really want which is ETFs. ETCs are paired up with commodities and unlike ETFs which are paired up with futures contracts which if you look at the market now both isn't doing so well in terms of giving their investors any kind of earnings.
the differences are somewhat trivial for investors. an ETF would directly invest in BTC or futures. an ETC would issue notes underwritten by a bank which are physically collateralized by BTC or futures. both would probably track the underlying reasonably well (assuming an open issuance/redemption system) and carry similar fees.
as far as wall street goes, lower risk and larger institutions probably want exchange traded securities based in the USA and regulated by the SEC. that's why a swedish ETN or german ETC isn't necessarily a game changer, but it does show the gradually shifting investment atmosphere. and since notes are fully collateralized (unlike an ETN) it should mean adoption of the ETC will have a net bullish effect on price.