with all this messy way this quazi etf works why is not the following also possible until (if ever) COIN arrives.

I set up a company in a country (X) that sees bitcoin as a commodity.  I buy 20,000 bitcoin.  I then set up a company in the US for example which buys company x. The US company has 1 million shares. People are able to buy the shares and sell them to others as well.

I make some money on fees and an etf like product is immediately available to people - no year long wait etc.

Comments?