Quote from: avikz on August 01, 2018, 10:10:57 AM

Everyone seems so excited about the launch of bitcoin ETF. But can anyone guide me to understand whether the proposed ETF by Direxion is a synthetic or a physical one?

If it is a physical one, we have a reason to cheer because large buy orders will follow as soon as the ETF is approved by SEC. These coins will be removed from circulation pushing the price higher.

However, if it is a synthetic one, the community will have no reason to cheer because no physical bitcoins will be bought by the ETF management. So before cheering about the proposed ETF by Direxion, we need to know the truth. Can anyone point me to the right documentation here?

I went through a lot of articles and documentation but did not find anything related, with one exception. The Cboe filing included a second going that covered Security. For instance if a private or corporate investor should loose the private key to the wallet. Not sure about you but this sounds real enough for me.