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Image source: https://www.flickr.com/photos/76592024@N06/

Image source: https://www.flickr.com/photos/76592024@N06/

The Winklevoss Bitcoin Trust has spent almost exactly one year slogging through the Securities and Exchange Commission (SEC) approval system, with multiple amendments to their filing along the way. In their most recent filing, the Winklevoss twins updated their plans for their bitcoin-backed exchange-traded fund (ETF) with what the Wall Street Journal deemed “minor tweaks” and updates about risk-factors that could influence the price of the virtual commodity.

The amended filing also includes a new ticker listing, “COIN,” rather than previously proposed symbols such as “WINK” or “VOSS.” The Winklevoss brothers already have a strong brand recognition in the bitcoin community thanks to their proprietary blended bitcoin price index, the Winkdex.

SEC approvals for even well-established commodities can be laboriously slow, complex and expensive, and many have questioned whether a bitcoin-backed EFT will ever see approval. With a tentative listing on Bloomberg and the seeming support of the NASDAQ, however, the “Winklevii” appear to have a good chance at approval. Speaking with the WSJ, Cameron Winklevoss noted that he was not allowed under securities laws to discuss the timing of the launch, but he added: “Identifying the ticker symbol and the exchange are two major events that further demonstrate that we are moving forward as expected.”

The tone of the amended filing has prompted speculation outside of bitcoin circles as well, with Bloomberg TV’s Street Smart devoting an entire segment to it yesterday.

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