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Not sure this is true. The registration documents claim shares can only be traded in 50,000 share blocks (called "Baskets", approx worth $1 million at launch) a

Not sure this is true. The registration documents claim shares can only be traded in 50,000 share blocks (called "Baskets", approx worth $1 million at launch) and you have to be a registered broker-dealer (with a bunch of other rich-people-problem restrictions) to trade. Am I missing something? Or will broker-dealers turn around and sell single shares to the public? Or these statements don't mean what I think they mean?

foobarqux 12y ago
APs are responsible for creating and dissolving trust shares in order to keep the share price close to asset value. The shares are traded on an open market, meaning retail investors can trade them. What retail investors can't do is take a bunch of BTC, give it to the trust and get USD back, or vice versa.
- DrStalker 12y ago
  So the 50,000 "basket" relates to buying and selling bitcoins with the trust, not for end users buying shares in the ETF?
  - justincormack 12y ago
    Yes, thats how ETFs work, splitting retail and wholesale trades out.
cjbenedikt 12y ago
It doesn't mean unaccredited investors can't buy/sell it. Once listed anybody can. Every ETF has Authorized Participants http://www.investopedia.com/terms/a/authorizedparticipant.asp http://www.investopedia.com/terms/a/authorizedparticipant.as...