March 18, 2021
Investors clearly demand an exchange traded product as evidenced by the Greyscale GBTC AUM so an ETP should be approved as soon as possible as this should give retail investors a cheaper investment option. Regardless of the downsides of Bitcoin clearly individuals will buy investment funds to gain exposure in investment accounts.
When there is a Bitcoin ETP launch date ALL issuers that are approved should go live at the same time. Allowing VanEck first is unfair to consumers because they will be able to charge a higher expense ratio than if forced to compete with other ETP creators because of the pent up demand. This would allow for options for retail investors to choose from to gain Bitcoin exposure in investment accounts.