Serious question. We have had bitcoin ETFs up here in Snow Mexico (Canada) for over a year. Why won’t Americans (or others) simply buy the USD$ version on our exchange the TSX? Symbol BTCX’u. I know there are some esoteric rules like PFIC but it is not illegal as far as I know. Is it xenophobia? P.S. we had the first ever ETF as well — beating SPY by a few months.
Discussion
I believe it is not just about being able to buy. But when big guys go into this path it is like a greenlight for everyone. If an asset manager goes and buy a Canadian Bitcoin ETF and things will go wrong than nobody hesitates to blame the guy. I really don’t have much idea how these things works but as I listen more about these kind of stuff during bitcoin shows it started to feel like people/companies just look at each other and just do the same things. It is not being innovative or thinking out of the box but sheer volume that wins most.