I'm holding out for sure until Winklevoss IPO hits which values coins at $100 each. Lets see if the institutional investors like Bitcoin, easy to purchase a stake in.
If you are going to rely on the S-1 please READ the S-1. The ETF doesn't value coins at anything. To pay the registration fee they need to provide an approximate IPO because the fee is a % of the fund value.
The price they used in the S-1 was the volume weighted average for the price across the three largest exchanges on the day of the filing and for the sole purpose of paying the SEC their fee. Nothing more.
If/when the ETF is approved baskets will be sold at the CURRENT price whatever that may be $20 or $20,000.
News to me. Ok, i'll take a closer look and re-evaluate my position. Thanks.