Winklevoss Twins File For First NASDAQ Listing for Bitcoin
Could the first publicly listed Bitcoin ETF be just around the corner? The Winklevoss Brothers are convinced of it…
If this goes through then would provide a unique opportunity to own shares of Bitcoins, but would this be a good or bad thing?
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 Winklevoss Bitcoin Trust would be the first publicly-listed bitcoin ETF. The trust is owned by Math-Based Asset Services, LLC, an entity set up by the Winklevoss twins.
According to the SEC filing, the ETF is expected to IPO for 1m total shares. Each share is worth one-fifth of a bitcoin, which would mean that the trust controls 200,000 BTC and at recent prices would be worth roughly $87 per share.
Selling “shares” of bitcoin on the open NASDAQ market would provide investors improved access to bitcoin-based assets. Via coindesk.com