The Winklevoss twins seem to have a best timing though a misfortune luck.
When the Winklevii filed for a physically corroborated bitcoin exchange-traded fund nearly 3 years ago, it total a stir. Their zeitgeist-capturing ETF filing garnered more press attention than all 139 new ETF launches that year total though shortly ran into a wall in a form of U.S. bonds regulators.
Since then, the twins have finished several adjustments to their filing as seen in a list below—presumably in an attempt to residence the U.S. Securities and Exchange Commission’s concerns. They even picked an sell (Nasdaq) and a ticker (COIN) and hired prominent ETF counsel Kathleen Moriarty of Kaye Scholer LLP. Still, no capitulation has been stirring from a SEC in a inserted years.
If the ETF dream is dead, or during slightest in regulatory limbo, there is an choice trail for a Winklevosses to explore in a form of a bitcoin exchange-traded note, or ETN. An ETN is legitimate adequate for many investors, and it would expected have improved taxation diagnosis than an ETF. It would still need SEC capitulation around a order change, though that’s been finished before, namely with VelocityShares, whose founders have received rule changes over a years for banking ETNs, volatility