The submission of applications from industry behemoth BlackRock and other players has fueled speculation that approval will soon be given.
Larry Fink, CEO of the largest asset management company globally, acknowledges the potential of cryptocurrencies to 'revolutionize finance,' showing support for an industry that he previously approached with skepticism. However, the fundamental principles of Bitcoin are fundamentally contradictory to the nature of an ETF.
The report highlights that despite their presence in Canada and Europe for a considerable period, these ETFs have encountered limited traction among investors.
And it doesn't actually make a difference whether it's technically classified as a trust.