Tuesday, July 15, 2014

Winklevoss Twins Announce Trading Code for Bitcoin ETF

Earlier this month, Silicon Valley moguls The Winklevoss twins revealed the trading symbol for their cutting-edge bitcoin ETF (exchange traded fund). The bitcoin mutual fund will go public under the mark 'COIN'.

The digital currency caught the twins' eyes more than a year ago as the cost of bitcoin took off. The twins publicized strategies to buy the prominent web-based currency July 1, 2013. Since then, extra details have come to light concerning what the investment tactic was becoming. In May, the twins, publicized they were taking the Winklevoss Bitcoin trust (their Bitcoin ETF) to the stock market. They feel the value of Bitcoin can increase by a factor of ten with a valid exposure on the exchange. On July 15, 1 Bitcoin cost $621.45, a substantial investment opportunity if what the twins say is correct. This figure has been gradually growing since the statement of the fund.

'COIN' is still held up in government control and there is zero crystal clear or formal publicized date for the IPO, although many professionals are speculating that (based on government approval) the fund may be trading right before the end of the year.

It is an exciting period for the digital marketplace, but maybe what is most fascinating about bitcoin specifically is the way in which it is expanding into the real world. Read more about this story at the New York Times and at coindesk.

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