Why the Winklevoss Bitcoin ETF Is Sitting in Limbo

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Investors are getting tired of waiting for the Winklevoss Bitcoin ETF (Nasdaq: COIN).

The initial U.S. Securities and Exchange Commission (SEC) S-1 filing for the Winklevoss Bitcoin Trust (the fund’s official name) was made in July 2013, nearly three years ago.

The Winklevoss Bitcoin ETF proposal outlines an exchange-traded fund more or less modeled on the popular SPDR Gold Trust ETF (NYSE Arca: GLD).

Winklevoss Bitcoin ETFTwins Cameron and Tyler Winklevoss set out to create the fund to make investing in Bitcoin as easy as buying a stock. People can buy actual bitcoins of course, but for many that remains a technically intimidating option. So theoretically the Winklevoss Bitcoin ETF will open up Bitcoin to a much wider pool of investors.

But there’s been no news on the regulatory progress of the Winklevoss Bitcoin Trust for more than a year. Last January the Winklevoss Bitcoin ETF filed an amendment to its prospectus of its intent to list 1 million shares at $20.09 a share.

Since then, nada. The long news drought has

Read more ... source: TheBitcoinNews