Video - Bitcoin Q and A Where are the Exchange-Traded Funds - ETFs
Bitcoin Investment Trust (GBTC). Bitcoin is sufficiently alien that it can't be swallowed by the traditional financial system; they have no idea how to handle it because it doesn't conform to expectations, counteracting controls, counterparties, risk management layers, checks & balances. They assume custody, oversight, and control, of which Bitcoin expresses none. What they have doesn't work with what is new. Bitcoin is capable of having an ETF; ETFs are quite incapable of encompassing Bitcoin into the current regulatory system. That is a feature, not a bug.