Winklevoss Bitcoin Trust Looks to Raise $65 Million for ETF

Winklevoss Bitcoin Trust Looks to Raise $65 Million for ETF

According to an SEC document filed yesterday, the Winklevoss Bitcoin Trust has filed to switch the listing from Nasdaq to BATS Global Markets and has filed for a maximum offer of $65 million. Having listed their first application to list on Nasdaq, with the Securities and Exchange Commission (SEC) three years ago, the brothers are now looking to list the Winklevoss Bitcoin Trust, their bitcoin exchange-traded fund [ETF] to BATS Global Markets. The filing reveals that the size of the offering will be a listing of 1 million shares, at $65 each. That figure is up from the list price of $20.09....


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Winklevoss Bitcoin Trust Seeks To Raise $65m

Injecting an additional US$65m into the ecosystem would push the market cap up a bit. That said, it is possible the Winklevoss twins will use a part of their own Bitcoin stash for this project. The SEC has published a document on the Winklevoss Bitcoin Trust, which is set to issue its own shares to investors. The primary objective of this Trust is to hold Bitcoin, and the initiative is sponsored by Digital Asset Services, LLC. The name Winklevoss has been synonymous with Bitcoin for quite some time now. Tyler and Cameron Winklevoss launched their own Bitcoin exchange, called Gemini,....

Winklevoss Bitcoin Trust ETF Files for 1m Shares on Nasdaq: More to Be Revealed in January

Earlier today, the Winklevoss Bitcoin Fund, an exchange-traded fund (ETF) founded by Cameron and Tyler Winklevoss formally filed for shares on Nasdaq. The Bitcoin Trust filed with the Securities Exchange Commission to apply to sell 1 million shares. Astute observers have read between the lines and noted that a lack of a specific launch date and/or expense ratio indicates that the ETF is still months away from seeing the public light. Also read: SEC Receptive to Winklevoss Bitcoin Trust ETF. Winklevoss Bitcoin Trust ETF. The Winklevoss Bitcoin Trust is officially sponsored by Math-Based....

Winklevoss' Apply to List and Sell as COIN

It has been announced that the Winklevoss twins have filed to sell a little over 20 million shares across the NASDAQ exchange - shares of the two brothers' Winklevoss Bitcoin Trust. Each of the shares represents an interest in the aforementioned trust, which as most of you will now is the bitcoin exchange traded fund that the two brothers a while back. A quick scan through the prospectus reveals the following listed as the "Trust Objective" (essentially what it offers potential investors) as being as follows: The investment objective of the Trust is for the Shares to reflect the....

Winklevoss twins file for $20 Million IPO of bitcoin trust fund

The Winklevoss twins have filed with the U. S. Securities and Exchange Commission (SEC), for an investment fund based upon their substantial holding of bitcoin. The Winklevoss Bitcoin Trust is sponsored by a company the pair created called Math-Based Asset Services LLC. The Winklevii (as they are known) hope to expose more investors to the potential gains (and losses) of bitcoin. The S-1 form can be read in full here. The Winklevii told the New York Times in April that they had a portfolio of (at the time of writing) $11 million worth of bitcoin. That holding reportedly represents 1% of....

Gemini on Its Way to Become a Trust Company

The exclusive United States specific bitcoin exchange, Gemini is one step closer to beginning its operations from New York. The company founded by Tyler and Cameron Winklevoss, better known as the Winklevoss Twins has filed the necessary paperwork with the New York State Department of Financial Services. According to Gemini's spokesperson, the Winklevoss twins are said to have completed the formality of filing the trust application with the government so that they can start operating as a trust company. A trust company, according to the definition of the State of New York is a financial....

Quotes

Swift could someday send transactions in bitcoin as a currency if banks offer accounts in bitcoin.

Gottfried Leibbrandt, CEO of SWIFT