While I agree that we can expect SEC approval of the WBIT, my pricing expectations do not depend principally on that factor:  There are numerous major equity share exchanges around the world where ETFs and ETNs list.  I would be quite happy with an London, Hong Kong, Singapore, Frankfurt, Tokyo or Toronto listing.  U.S. customers have easy access to all of these markets.  Eventually, I would expect some vehicle highly correlated with BTC\Fiat for every FX major to be available in all major share markets, either via a product or via a fund listing.

The incentive for investment bankers to invent new products is astounding.  We get a lot of crap vehicles that way.  Dangle a novel substantive vehicle in front of an Credit Suisse managing director, and you will see a major Pavlovian reaction.