If the Winklevoss Bitcoin ETF is Approved, What Happens Next?
March 11th is the next milestone date in Bitcoin history, as the Securities and Exchange Commission (SEC) will decide whether to allow the world’s first Bitcoin ETF fund. So what could happen if it is approved? Bitcoin ETF Could Lead to ‘Irrational Exuberance’. If the SEC approves the Winklevoss Bitcoin Trust next month, it might set off a speculative rush into bitcoin. An easily accessed ETF (exchange-traded fund) that tracks the value of bitcoin could cause money to flood into the fledgling bitcoin market. What some see as a chance for average investors to participate in one of the great....
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The Winklevoss Bitcoin Trust is no longer attempting to list on Nasdaq, according to an SEC document filed today. After three years of waiting for regulatory approval from the Securities and Exchanges Commission (SEC), the Trust’s founders, investors Tyler and Cameron Winklevoss, have changed tact and are now seeking to list the product on the BATS Global Exchange. Notably, the Winklevoss brothers have also increased the size of the offering, from $20m to $65m, a move that would boost the maximum price of shares offered to retail investors. If the SEC approves the request, the Trust would....
Digital Gold author Nathaniel Popper, who wrote his first Bitcoin article about the Winklevoss Twins' involvement in it, interviewed the twins earlier tonight in New York at an event hosted by GeneralAssemb.ly. Gemini Weeks Away. The burning question among the Bitcoin community was on the progress of Gemini, the brothers' exchange, which will be based in New York. Up to now, they've told the world they were waiting on the finalization of the BitLicense proposal to get things going, although Cameron Winklevoss made sure to say, "Our tech is there. We are ready to operate." Prior to that,....
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,....
Last but not least, the Winklevoss bitcoin ETF can bring more market stability to the ecosystem. Companies active in the bitcoin world need to band together when it comes to regulation. The Winklevoss twins have been trying to get their bitcoin ETF approved for some time now, without much success. Interestingly enough, they received some help from Circle in the form of an official response sent to the SEC. It is doubtful this will hasten the approval of this ETF, even though it is a positive sign for sure. Institutional investors across the US can benefit greatly from having access to a....
An analyst has said there is very low probability that the Winklevoss brothers’ Bitcoin ETF will be approved in 2017 - due to “fear, uncertainty and doubt.” It is probably the first time that an official statement has used FUD as a reason to give Bitcoin a vote of no confidence. FUD means 25 percent approval chance. In a research note republished in a speculative article on CNBC, Needham’s Spencer Bogart stated that “in contrast to most of the people that we speak to in the industry, we think the probability that a Bitcoin ETF will be approved in 2017 is very low.” The note continues: “To....