Winklevoss Bitcoin Exchange-Traded Fund Closer to Approval, Uses Cold Storage
The SEC’s inefficient approval process of new ETFs has been criticized by a large group of financial experts and firms over the years. To ease barrier between the SEC and the Winklevoss Bitcoin Trust, the twins have made a few major alterations to its trading mechanisms and oversight. Partnership With State Street & Burr Pilger Mayer. Earlier this month, the Winklevoss twins have appointed State Street Corporation and Burr Pilger Mayer (BPM) to oversee its ETF. Specifically, State Street is operating as the ETF administrator, while BPM is in charge of all auditing processes. State....
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With approval from the Financial Industry Regulatory Authority (FINRA), the Bitcoin Investment Trust (BIT) is set to be the first publicly traded bitcoin fund. The exchange beats the famous Winklevoss Twins in their attempt to create the first Bitcoin ETF. The Winklevoss Twins’ exchange has been ready for more than a year, but has failed to launch due to not getting regulatory approval. The reason for the delay is that they are trying to create an exchange that any investor can participate in, while BIT is only available to accredited investors. “Bitcoin Investment Trust shares have been....
The Winklevoss Bitcoin Trust, currently moving towards regulatory approval, could be approved by the end of 2014 and will be a Bitcoin exchange-traded fund (ETF), with each share representing an amount of bitcoin held by the Trust. Currently, such an investment vehicle is only available to wealthy investors, through funds like the Bitcoin Investment Trust. The Winklevoss ETF will allow people with a brokerage account to invest in Bitcoin without having to worry about the challenges of buying, storing, and safekeeping bitcoin. Proposed in 2013, the Winklevoss Bitcoin Trust was the first....
A new regulatory filing with the Securities and Exchange Commission (SEC) indicates that Cameron and Tyler Winklevoss are planning to have their Winklevoss Bitcoin Trust exchange traded fund (ETF) listed on the NASDAQ stock exchange. If the SEC gives its final approval, investors will be able to buy into the fund and participate by owning "shares" of bitcoins. The filing is an amendment to a series of documents that the ETF has submitted to the SEC in order to get the fund off the ground. It was initially registered with the SEC last July. Math-Based Asset Services. The Winklevoss Bitcoin....
New documents filed for the bitcoin exchange traded fund (ETF) sought by investors Cameron and Tyler Winklevoss reveal that the size of the offering has grown to $100m. The years-long effort – delayed more than once by the US Securities and Exchange Commission (SEC) – is aimed at providing a means for investors to gain exposure to bitcoin without actually having to buy the digital currency. The SEC is expected to make a decision on the Winklevoss Bitcoin ETF later this year, with its self-imposed deadline of 11th March inching closer. Speculation around the approval is such that at least....
The Winklevoss Bitcoin Trust may be inching closer to becoming the first bitcoin ETF listed on a major stock exchange, but that potentially historic date could be further off than some might think. Announced three years ago by investors Tyler and Cameron Winklevoss, the Winklevoss Bitcoin Trust continues to draw attention, despite delays. As it would trade baskets of shares tied to real bitcoins, retail investors have long seen its approval as a boon for the price of bitcoin and the ecosystem as a whole. It turns out, though, that even in spite of imminent deadlines that suggest approval....