collected by :Molly Tony
The others are Bitcoin Investment Trust, a creation of Barry Silbert, who had previously built a market for selling shares in private companies, and SolidX Bitcoin Trust.
Just look at gold: SPDR Gold Shares ETF, started in 2004, has more than four times higher the market value of iShares Gold Trust ETF, started in 2005.
Or they can invest in Bitcoin Investment Trust, which trades over the counter, often at a hefty premium to the cryptocurrency.
The Winklevoss Bitcoin Trust is one of three such vehicles seeking regulatory approval — and the advantages that come with being first.
Some $300 million could pour into a bitcoin ETF in its first week, Spencer Bogart, head of research at venture-capital investor Blockchain Capital, said in an interview.
As it stated in
SEC Rejects Winklevoss Bitcoin ETF
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As it stated in
But investors in the Winklevoss Bitcoin ETF would not have gotten the same results as they would investing directly in Bitcoin anyway.
Ironically, investors in the proposed Winklevoss Bitcoin ETF likely would not have captured any of Friday’s surge or swoon in the price of Bitcoin.
(Related: A Guide to This Week’s Big SEC Decision on the Bitcoin ETF )But the SEC made a decision Friday to prevent the proposed ETF, the Winklevoss Bitcoin Trust, from joining a stock exchange, citing “concerns about the potential for fraudulent or manipulative acts and practices” in Bitcoin trading.
That’s a 35% swing in the Bitcoin price in the span of a day.
While the Bitcoin ETF did not plan to mirror it, the WinkDex provides an approximate idea of how the Winklevoss Bitcoin Trust would have performed.