Bitcoin has hit new highs and the rally has not yet weakened. As of 14:00 on February 18, bitcoin prices rose to $51986, up to $52618 in 24 hours. The price of bitcoin has soared fivefold in the past year. Bitcoin’s rise is like a rainbow, and the related benefits are constantly releasing. Since February, Canadian regulators have approved the issuance of the world’s first batch of crypto assets (virtual currency) bitcoin exchange trading fund, officially opening a new prelude to digital currency trading. Recently, pure investments Inc. and evolve funds Group Inc. have been approved by the Ontario Securities Commission (OSC) to issue bitcoin exchange traded funds (ETFs). If these two products are successfully launched, they will become the first global fund products for retail customers to invest in bitcoin and will be traded on the Toronto Stock Exchange of Canada. It is also the first bitcoin fund targeted at retail investors in the world, creating a historical precedent. Seven years later, bitcoin ETF has finally come into being. The road of bitcoin ETF is full of twists and turns. In 2013, the Winklevoss brothers, who claim to own 1% of the global bitcoin total, submitted the application documents of bitcoin ETF listing to the US Securities and Futures Commission. In 2014, they initially decided to list bitcoin ETF on the NASDAQ OMX exchange, and announced the stock code “coin” for the first time. However, in the long waiting process, there was a hacker intrusion in bitfinex exchange, which seriously affected the listing audit progress of the ETF, and the original plan of listing on NASDAQ could only be changed to listing on bats BZX global exchange. However, on March 10, 2017, after three years of review, the SEC finally rejected the bitcoin ETF listing application submitted by Winklevoss brothers. Subsequently, the SEC rejected the ETF listing applications submitted by solidx, Rex, proshare capital management and van Eck money management. At that time, bitcoin was repeatedly rejected by regulators because of its low price, small market value and easy to be manipulated by the market. Until February this year, the North American market finally approved two bitcoin ETFs. On Tuesday, evolve funds Group Inc, a Canadian fund management company, announced that its bitcoin ETF had been approved by the Ontario Securities Commission (OSC). Previously, the bitcoin ETF launched by purpose investments Inc. was approved as the first physical settlement ETF in North America. This is also a major positive for the bitcoin market. Dan bin, chairman of Dongfang Harbor Investment Management Co., Ltd., and author of the rose of time, said on his micro blog, “I have purchased 1% of bitcoin ETF fund. Although it is a little late, I will put it into practice if I think it out! Hope to keep curiosity about new things! ” “As Tesla allows bitcoin to be used as a payment ‘currency’, its value may be increased,” Dan said. The total number of bitcoin in the world is 21 million, and 15.85 million pieces have been dug up by July 13, 2020. If the number of long-term holders increases, or companies like Tesla continue to join, it is very likely to reach the $400000 mentioned by Ark’s “bull queen.” As the basic asset of bitcoin ETF, bitcoin continued its strong rise and reached a new high after breaking the $50000 mark. As of 14:00 on February 18, bitcoin prices rose to $51986, the highest in 24 hours to $52618. Bitcoin is up more than 70% this year. Tesla invested $1.5 billion to buy bitcoin, and the giants are also entering. According to SEC regulatory documents, Tesla has invested $1.5 billion in bitcoin and will start accepting bitcoin as a payment tool for electric vehicles in the near future. Neither Tesla nor musk has publicly explained the reasons for the increase in bitcoin, but there are speculation that several factors may have prompted the industry company to take the risk of holding bitcoin. The first is the need for diversified configuration. Tesla made it clear in its filing with the US Securities Regulatory Commission that the increase in bitcoin is an opportunity to diversify cash and cash equivalents. The company usually holds excess cash and cash equivalents, such as treasury bills or commercial paper, to provide operational liquidity and obtain certain low-risk returns. The second is based on the judgment of the future of the French currency, the US dollar. After World War II, the US dollar has become the world reserve currency, but the world reserve currency has never been fixed. In addition, with the global monetary easing policy, Tesla’s 1.5 billion dollar investment in bitcoin is regarded as a hedge against the coming risks. According to CNBC, Rick Rieder, chief investment officer of fixed income at BlackRock, a global asset management giant, said, “BlackRock has started to dabble in bitcoin.” Prior to the news, on January 21, 2021, BlackRock’s at least two fund companies are focusing on the field of cryptocurrency, and the company has approved at least two funds to invest in bitcoin futures products. BlackRock said it could use assets such as bitcoin derivatives under BlackRock strategic income opportunities and BlackRock Global Allocation Fund. Most countries are still cautious, and different countries and financial institutions hold different attitudes towards the launch of bitcoin ETF. In Singapore, while market regulators have long been skeptical of digital currencies, Gary Gensler, who will take over at the Bank of Singapore, may be willing to allow more extensive investment in such assets. In addition, mohi Uddin of Bank of Singapore said in the report that more participation of institutional investors (through ETF) will help to improve liquidity, reduce volatility and make price movements more driven by fundamental factors rather than speculation. Dominic Stevens, chief executive of the Australian Stock Exchange, said the Australian Stock Exchange was cautious about cryptocurrency related products, but was considering using them. “The current world of bitcoin has changed dramatically, and my intuition is that bitcoin will be dominated and adopted by more companies and institutions,” he said Cosmos capital now plans to list its bitcoin ETF on ASX, which is likely to become Australia’s first bitcoin linked ETF. U.S. regulators are more cautious than ETFs. Many overseas institutions, such as Winklevoss bitcoin trust, have submitted bitcoin ETF applications to the US Securities and Exchange Commission (SEC), but none of them has been approved. Recently, van Eck and nydig submitted an application to the SEC for issuing bitcoin ETF, among which van Eck has been the third attempt in recent years. Paul Donovan, the IMF’s chief economist, said a “right currency” could be a stable store of value, providing certainty that it would be able to buy the same basket of goods tomorrow as it is today. This confidence comes from the central bank’s ability to reduce supply when demand falls. Most cryptocurrencies have no mechanism to shut down supply, so their value will decline, leading to the collapse of purchasing power. This paper does not constitute an investment proposal. The stock market is risky and investment should be cautious.