Winklevoss Twins Plan NASDAQ Listing for Bitcoin ETF in New SEC Filing

In an amended SEC filing, the Winklevoss twins said they plan to list their bitcoin ETF on the NASDAQ.

May 8, 2014 at 11:45 p.m. UTC
Updated Sep 14, 2021 at 2:07 p.m. UTC

A new regulatory filing with the Securities and Exchange Commission (SEC) indicates that Cameron and Tyler Winklevoss are planning to have their Winklevoss Bitcoin Trust exchange traded fund (ETF) listed on the NASDAQ stock exchange.

If the SEC gives its final approval, investors will be able to buy into the fund and participate by owning "shares" of bitcoins.

The filing is an amendment to a series of documents that the ETF has submitted to the SEC in order to get the fund off the ground. It was initially registered with the SEC last July.

Math-Based Asset Services

The Winklevoss Bitcoin Trust would be the first publicly-listed bitcoin ETF. The trust is owned by Math-Based Asset Services, LLC, an entity set up by the Winklevoss twins.

According to the SEC filing, the ETF is expected to IPO for 1m total shares. Each share is worth one-fifth of a bitcoin, which would mean that the trust controls 200,000 BTC and at recent prices would be worth roughly $87 per share.

CoinDesk - Unknown

Selling "shares" of bitcoin on the open NASDAQ market would provide investors improved access to bitcoin-based assets.

New York City-based SecondMarket operates a bitcoin investment trust. However, that fund is currently restricted to accredited investors.

The Winklevoss brothers, who had an early hand in the conception of Facebook, have been bullish advocates of bitcoin for some time. They indicated last year they expect BTC to hit $40,000 per coin in the future.

Big backers

The Winklevosses revealed their bitcoin investment last year, reportedly owning 1% of all bitcoins in circulation. Based on the digital currency's  total market cap, that would mean the twins jointly own over $50m in BTC.

The brothers have been publicly stumping for the positive virtues of the virtual currency industry. They have appeared on CNBC and testified earlier this year in front of the New York Department of Financial Services' hearings on virtual currencies.

The twins are also keynote speakers at Money2020 later this year, which is expected to attract thousands of financial industry attendees.

"Has the potential to give rise both to frauds and high-risk investment opportunities.”

Nevertheless, the Winklevoss Bitcoin Trust continues to make filings with the US government's regulatory body for securities, suggesting its listing on NASDAQ could very well occur at some point in the future.

Winklevoss image via Huffington Post

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

2
CoinDesk - Unknown
Crypto News Roundup for May 24, 2022

With bitcoin and ether trading down as Tron’s TRX trades in the green, plus a look at what to expect in crypto with rising interest rates, CoinDesk’s "Markets Daily" is back with the latest news roundup.

With bitcoin and ether trading down as Tron’s TRX trades in the green, plus a look at what to expect in crypto with rising interest rates, CoinDesk’s "Markets Daily" is back with the latest news roundup.

CoinDesk - Unknown
3
CoinDesk - Unknown
Miladys NFT Prices Tumble After Creator Doxxes Self as Person Behind Controversial 'Miya'

The collection amassed huge popularity in crypto circles but its creator has now acknowledged being the person behind a pseudonymous account allegedly linked to an online cult.

The collection amassed huge popularity in crypto circles but its creator has now acknowledged being the person behind a pseudonymous account allegedly linked to an online cult.

CoinDesk - Unknown
4
CoinDesk - Unknown
How to Transfer NFTs Between Wallets

As an NFT collector or investor, you'll want to learn how to transfer your collectibles in and out of crypto wallets.

As an NFT collector or investor, you'll want to learn how to transfer your collectibles in and out of crypto wallets.

CoinDesk - Unknown