Now your 401k can invest in bitcoins, retirement funds, every wall street trader... this is opening floodgates.
It's still for the rich. You're going to need about a million to invest, give or take depending on where the price goes.
On the first day of trading, each Share in the initial Baskets was comprised of [0.20] Bitcoins, and each initial Basket was made up of [10,000] Bitcoins.
They're only selling them in "baskets" so the minimum purchase is 10,000
BTC.
The purpose of the baskets is to place the assets with primary investors who will turn around and trade them on secondary markets. There will be very few, if any, private investors who purchase any baskets. In fact, getting on the list of initial buyers of these baskets is incredibly hard and requires an enormous amount of capital. This is how all assets are marketed.
In fact, when an IPO takes place, those "baskets" have already been sold to the institutional investors and the IPO is those institutional investors offering them on the public markets for the first time.
--> Heavily involved with financial markets and even work on the trading floor of the Chicago Board of Trade.