As planned the previous year, XBT Provider AB could not launch the exchange-traded product based on a basket. The company’s CEO wants to examine the way in which the cryptocurrency community moves, prior to any action.
Kssis said that XBT “didn’t have a clue” when it got regulatory clearance from Swedish financial supervisory authority about the forks that had developed.
He further elaborated
It’s important to ask how the community is responding to the split and who’s going to support one asset versus the other. If we get it wrong, these assets will drop and if they’re part of the basket we can’t go back because it’s in the final term-sheet.
A fork originates when the blockchain that the cryptocurrency depends on, splits into one underlying and one dominant asset. Usually, this happens due to security upgrades or hacking, among other things. Quite often, it is possible to make a soft fork compatible with the older version but a hard fork cannot.