BIT is second market's version of COIN without the long SEC approval process.  It's supposed to go live this quarter, per Barry, about 6 weeks ago.

So far BIT has only been opened to rich high net worth people.  Once BIT gets listed [on the OTC market] anyone will be able to buy it, basically the same thing as COIN.

COIN of course will be the premium version but BIT should bring in a lot of new investor money and increase liquidity.