Assuming it comes to market, the Winkelvoss Bitcoin Trust, an ETF sponsored by twin brothers Cameron and Tyler Winkelvoss, will trade under the ticker “COIN,” according to a Form S-1 filing with the Securities and Exchange Commission.
In May, a regulatory filing revealed the Winkelvoss Bitcoin Trust will trade on the Nasdaq. The most recent filing shows no change to that plan. In February, the brothers formed the Winkdex, which will be used to price the value of assets held by the trust. [Bitcoin ETF Will Trade on Nasdaq]
The new S-1 lists a number of new risk factors, mostly revolving around government regulation. The filing also outlines Switzerland’s latest legislative measures and notes Bolivia’s recent central bank ban on bitcoin, reports Nermin Hajdarbegovic for CoinDesk.
It has been a year since the Winkelvoss brothers filed for the bitcoin ETF, underscoring the difficulty in launching a new ETF, particularly one for a non-traditional asset class such as bitcoin.
SecondMarket’s Bitcoin Investment Trust could beat its Winkelvoss rival to market. In fact, the Bitcoin Investment Trust has been available to accredited investors and has already amassed $70 million in assets under management. [The Bitcoin ETF You Haven’t Heard Of]
The Bitcoin Investment Trust is expected to list on the OTCQX in the fourth quarter with the goal of eventually securing a listing on a major U.S. exchange.
Although no firm launch date for the Winkelvoss Bitcoin Trust has been announced, firming up the trust’s listing exchange and its ticker can be seen as signs things are progressing as expected.
Last week, the US Marshals Service auctioned off nearly $18 million worth off seized bitcoin. CoinDesk reports that venture capitalist Tim Draper was the winner of that auction. The Marshals Service announced Tuesday that one unidentified bidder won all 10 bitcoin blocks up for auction.
ETF Trends editorial team contributed to this post.