If I can recall correctly there are two attempts of proposing the ETF to the Securities and Exchange Commission but it was all disapproved. I remember clearly that one of the proposal was made by the Winklevoss brothers and it was junked. Now, this is a very surprising event and I never thought that a Bitcoin ETF will be approved by the US SEC. But there is one intriguing question what rule will the SEC be adding to the ETF. Well, lets find out how the market will react to this.
Yes, there were 2 attempts, but then Wall Street came in and now you can see a correlation between the price of BTC and S&P 500. You can find nice charts that show that they both dipped at almost exactly the same moment in February.
It was a matter of time before the SEC saw the opportunity to make money on this. It's the same with China and their exchange ban. They will also change their attitude in time.
For those who don't want to wait, you can invest in GBTC now. It has a price premium over the base value of their coins, but the premium rarely drops below about 40% and can go as high as 90% so when BTC is rising you get not only an expansion in market value but also an expansion in the premium investors are willing to pay.
Those who don't want to wait should buy BTC instead of trying to put their money into various hedge funds.
