With Bitcoin, Citibank would issue DARs which its clients will be able to purchase equipped with insurance, protection, transaction monitoring, and other systems that are required by the financial regulators of the US. By investing in DARs, institutions will be able to hold instruments that represent the value of Bitcoin.
Look at this looking good. If it's happen then sure it will be benefit to crypto currency market. Good move and hope for best.
benefit, how? bitcoin is peer-to-peer. there shouldn't be any need for custodians to hold it on behalf of clients, and for banks to issue notes against it. that's what this is.
don't get me wrong. this stuff is inevitable. but it's not
good. a deposit receipt is a piece of paper. it's not BTC. the benefits of bitcoin are lost when you reintroduce trust to peoples' finances like this.