The Winkelvoss Bitcoin Trust, an ETF sponsored by twin brothers Cameron and Tyler Winkelvoss, took another step closer to becoming a reality after a regulatory filing out Thursday noted the ETF will trade on the Nasdaq, assuming it comes to market.
The trust’s sponsor is Math-Based Asset Services LLC, which was formed in mid-2013.Bitcoin is a type of decentralized digital currency based on a peer-to-peer network and can be exchanged through computers internationally without a financial intermediary. The system was first introduced by developer Satoshi Nakamoto in 2009. [Bitcoin Inches Toward Legitimacy]
The brothers filed plans for the trust last year and “have invested in Bitcoin companies, including the exchange BitInstant, and at one point owned more than $64 million of virtual currency itself,” reports Rachel Abrams for DealBook.
“The Winklevoss’s proposed fund would buy one Bitcoin for every five shares. The company the two operate, Math-Based Asset Services, would be in charge of storing the fund’s Bitcoin holdings,” according to DealBook.
Thursday’s filing did not indicate how much the Bitcoin ETF will charge.