UPDATE (22nd July 20:15 BST): The article has been updated with comment from Cameron Winklevoss.
WinkDex, the bitcoin price index created by bitcoin investors and entrepreneurs Cameron and Tyler Winklevoss, has launched a new API for developers.
Cameron Winklevoss told Fortune that the benefit of the API release would help both the index itself, as well as the broader bitcoin community, saying:
“We’ve spent a lot of time trying to build a really cool tool. Obviously the index will be big for us because it will be used to price any future ETF. But, we also wanted to build on this for the betterment of the bitcoin community.”
The WinkDex, known formally as the Winklevoss Index, launched in February of this year and compiles price data from a number of key bitcoin exchanges throughout the space. The index will act in conjunction with Winklevoss Capital Management’s plan to offer a bitcoin ETF (exchange-traded fund) by providing price information to that investment vehicle.
Building trader tools
The WinkDex aims to provide up-to-date price data that will serve as the foundation for both the proposed bitcoin ETF and other applications of the index.
Winklevoss told Fortune that the API launch opens the doors to unexpected use cases. While suggesting that the primary focus will be the facilitation of price data, it’s very possible that other uses may come into focus, he said, adding:
“That’s the fun part a little bit, is not knowing what the hell people are going to do on it. It’ll be really interesting to see what people do. And even though ostensibly an API of a pricing product is not super sexy, this matters to the bitcoin community.”
With the bitcoin ETF – which is expected to trade under the ticker symbol ‘COIN’ – still awaiting regulatory approval, the WinkDex API launch suggests that the Winklevosses intend to push the platform beyond price indexing.
Looking ahead, the initiative will see the launch of Android and iOS mobile apps, as well as the expected influx of developer-created apps.
Winklevoss told CoinDesk:
“Over the next year, we’re going to continue to refine WinkDex for its use as a leading data tool for the bitcoin ecosystem.”
Budding bitcoin magnates
The API launch is one step in a broader move by Cameron and Tyler Winklevoss and Winklevoss Capital Management to stake a serious claim in the digital currency world.
As it stands, the two brothers are visible members of the bitcoin community, having made significant early investments in the currency. The pair plan to speak at the Money2020 2014 conference in November, and appeared in May at a startup trade show in Seoul, South Korea.
No indications have yet been made as to when the ETF may launch.