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.
No you are mistaken. The basket is 10,000 shares = 2000 BTC but the purpose of the basket is merely to fund the IPO. This is a PUBLIC offering on NASDAQ. Once it goes public anyone with a brokerage account could buy any amount even a single share.
Really this is no different than Gold trust for example. To issue new shares or redeem existing shares requires a basket of thousands of shares however you can right now login to your brokerage account and TRADE (not ISSUE or REDEEM) a single share if you want. The ability to issue or redeem baskets of shares allows the fund to remain balanced.
For the record as far as I can tell this is just a preliminary filling, with numerous omissions, also I do not see anywhere where it states the exchange and definitely does not state nasdaq as the exchange.