Hopefully so.  But then any failure of BIT will be widely reported as a failure of Bitcoin itself.

Or, its success could lead to widespread adoption of Bitcoin by traditional financial investors.  I like that one better.

Let's hope that BIT will not fail in what ? Making themselves profit or in pumping bitcoins price/spreading and adoption.
Im positive that they wont get out without alot of profit for themselves, but how will that affect bitcoin price long term is what im concerned about.

They are made of people just like you and me, and they target profits, even if that means making another bubble, just to harvest it, and let it die out, leaving many hands burned and away from bitcoin for good.
I may be over sceptical, but i know what greed can do to a man, but someone also has to do what they're doing, i just hope they dont play their cards wrong way.

cheers

The first publicly traded investment fund was made for Bitcoin... I'd say that's a very golden moment.

don't know about golden moment, read article

good news for sure

and with good news all time like remittance applications using bitcoin this is more good news

abra
http://www.coindesk.com/launch-bitcoin-remittance-abra/

I agree with this.
We had many such ''big'' news in the past including that some ''big'' merchants will accept BTC, but still we didn't make breakthrough, price didn't stabilize...
I don't think that single ''great'' news can help much but many positive news over period of time can help BTC to become mainstream eventually.

I do not know if that is indeed great news for bitcoin. I feel like that is just one step closer to taming bitcoin and make it dependent on financial institutions and regulations.

I don't expect we'll see bitcoin's golden moment until another two or three years pass. We are in early days here, folks. It strikes me as highly probable that some horrible fiat catastrophe will bring on bitcoin's golden moment.

on the same lines, how did BIT jump the Wiklevi and get approved first? They have been trying for ages to get theirs going, without sucess, then out of no where comes another ETF...
They don't have to be different, there are loads of duplicate ETFs and ETCs in other markets, I hope they are both fluid enough though, otherwise if the liquidity is bad no one will want to buy either.

From what I understand, if you only have FINRA approval, there are a lot of types of investors that can't use the exchange. With SEC approval Hedge Funds and such can play. SEC is the real deal.

Yep. This is a step in that direction though. This, then Bitlicense/defined reg, then Gemini and similar exchanges, then ETF. Boom.