So what are the expected benefits of a bitcoin ETF? The expected benefit is that the Winklevoss twins can now cash-out the $11m+ of Bitcoins [1] on the backs o

So what are the expected benefits of a bitcoin ETF? The expected benefit is that the Winklevoss twins can now cash-out the $11m+ of Bitcoins [1] on the backs of public sucke-... I mean investors. There's not really any other immediate purpose for this ETF other than that, they've been working to build trust (a currency's only source of value) in Bitcoin for years now in order to add value to their own holdings; they will likely continue to resubmit the proposal [2] until they figure out a way to weasel things through. An ETF would be the ultimate stamp of trust and approval -- having the US gov't essentially validate Bitcoin via SEC approval means that $11m could easily turn into half a billion or more. [1] https://www.washingtonpost.com/news/the-switch/wp/2013/11/09/the-11-million-in-bitcoins-the-winklevoss-brothers-bought-is-now-worth-32-million/ https://www.washingtonpost.com/news/the-switch/wp/2013/11/09... [2] https://www.forbes.com/sites/laurashin/2017/03/10/sec-rejects-winklevoss-bitcoin-etf-sending-price-tumbling https://www.forbes.com/sites/laurashin/2017/03/10/sec-reject...