Winklevoss twins pick Nasdaq for bitcoin fund

Brothers Cameron and Tyler Winklevoss disclose that they've chosen to list Winklevoss Bitcoin Trust (BITCN) on Nasdaq, as the fund slowly moves toward public approval.

“The fact that the S.E.C. has allowed the S-1 to progress this far is an indication that it may actually happen,” says Wedbush's Gil Luria.

The fund would buy one Bitcoin for every five shares; management fees are as yet undecided.

The brothers' own index was valuing a single Bitcoin at $443 today.

Previously: Report: Prospects for Winklevoss Bitcoin ETF approval look good

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Comments (6)
  • JessePinkman
    , contributor
    Comments (159) | Send Message
    Bitcoin is a joke
    8 May 2014, 06:24 PM Reply Like
  • King Rat
    , contributor
    Comments (1736) | Send Message
    Bitcoin, the official imaginary currency of Occupy, IFLS, and "99%ers", WTO protesters, and people who cannot spell bankers without adding "st" after "bank".


    Congratulations to the Winklevoss brothers for profiting off of those people.
    8 May 2014, 08:30 PM Reply Like
  • Christopher Mahoney
    , contributor
    Comments (1312) | Send Message
    This fund will never happen. The market for bit coin is opaque, the price-discovery process is primitive, and the asset class is very illiquid. It's like an ETF of impressionist paintings or classic cars.
    8 May 2014, 09:03 PM Reply Like
  • hdsnblue
    , contributor
    Comments (3) | Send Message
    This is Winklevoss's way of gaining respect after losing to Zuckerberg over Facebook idea. They're basically trying to monetize something that's already been created by someone else, and thinking theirs will be more profitable. I'm going to watch everyone pump it up just so they can dump it the same day.
    8 May 2014, 09:08 PM Reply Like
  • psychological-dividends
    , contributor
    Comments (820) | Send Message
    Well, I'm sure they'll sell what others will buy. Nothing new about that.
    8 May 2014, 10:54 PM Reply Like
  • mpow
    , contributor
    Comments (51) | Send Message
    Everybody knows the Seeking Alpha crowd are all into Doge.
    9 May 2014, 12:25 AM Reply Like
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