Winklevoss Brothers Name State Street as Bitcoin ETF Administrator

If approved by the SEC, the Winklevoss fund would be the first bitcoin ETF issued by a U.S. entity.

Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission.

The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago.

Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity.

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According to the amended filing, State Street


will provide the fund administration and accounting services, including calculating the bitcoin trust’s net asset value (NAV).

Another major change involved the ETF’s custodian, Gemini Trust Company, doing monthly “proof of control” exercises and publishing the reports on the ETF’s website.


Read more ... source: TheBitcoinNews

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