No. I am not day dreaming.
Nope it's not possible. ETF means exchange traded fund and Bitcoin not listed on any registered exchange.
I am well aware that bitcoin is not listed on NSE/BSE and hence I talked about 'launch'.
I was not only talking about NSE/BSE, BTC not listed on any registered exchange in world if I am right.
P.S. before sending proposal to SEBI about ETF, fund house need to take permission from RBI.
You are confusing something here. BTC does not need to be listed anywhere for Bitcoin ETF to be launched. Bitcoins ETF needs to be recongnized as a legit fund/store of value by the authorities (may be RBI/SEBI in this case). Bitcoin ETN is already trading and Winklevoss twins are very close to have ETF on Nasdaq.
SEBI has to clear the ETF's based on underlying asset.I said if SEBI considers then you can list at exchanges.
Till date no fund house( As per the SEBI guidelines only fund houses can able to issue ETF's) approached to SEBI for issuing ETFs.If some one approaches to SEBI , then we come to know the status.
I am talking about if a few big holders can create a fund house and approach SEBI like Winklevoss twins aproached FinCen.
Do you think it is really easy to make/create fund house. There is so many restriction and eligiblities criteria for become fund house even if you fulfill all it will take 1-3 years for approval.
Coming from 0 to 15000 INR today was not easy either. Anything new will definitely face challenges. Those, who can overcome it, will reap the benefit. I saw a talk by Zee Network founder
Subhash Chandra, where he said how many loops he has to go through to get the first Indian private satelite on orbit. Today he reaps the benefit of it.
AFAIK, Winklevoss twins are trying out ETF from 2012. So I'll be very happy if we can get approval within 1-3 years.
To take the Bitcoin ETF proposal seriously, the first thing we need to sort out is how much bitcoin is required to create the fund which would be good enough to approach SEBI/RBI. Next, we can co-ordinate accordingly.
