Many Bitcoin enthusiasts will remember where they were and what they were doing when the Winklevoss twins announced their interest in Bitcoin. Things got even better when Tyler and Cameron Winklevoss launched Winkdex, a bitcoin price index, in February of 2014. But what were you doing on this New Year’s Eve day when you found out the Winklevoss twins filed a request to sell 1 million shares on Nasdaq?
The Winkevoss-Nasdaq news broke earlier today on Marketwatch.com, explaining readers how the Winklevoss Bitcoin Trust filed to sell 1 million shares on the Nasdaq exchange earlier today. It is interesting to note how the amount of shares, when multiplied by the price per share, is a relatively close value to the total amount of Bitcoins there will be in circulation at its peak, which is still many years away.
Each Winklevoss Bitcoin Trust share represents a unit of interest in the bitcoin exchange-traded fund, launched by Tyler and and Cameron Winklevoss earlier this year. The Winklevoss twins have made quite a name for themselves, as they were involved in a legal dispute with Facebook’s Mark Zuckerberg in regards to the origins of this social network.
According to the filing received by Marketwatch, the Winklevoss Bitcoin Trust ETF will be listed under the price symbol COIN on the Nasdaq exchange. COIN is aptly chosen, as it leaves very little to the imagination in regards to what these shares represent. One could even say they “coined” their price symbol perfectly.
The Winklevoss filing comes at a pivotal moment in the young history of Bitcoin, as the cryptocurrency has seen far less volatility in the past year, and has benefited from more awareness and adoption in 2014. With major players such as Dell and Microsoft now accepting Bitcoin as a payment method, the ever disruptive digital currency could see a steady price increase once the ETF has been listed on Nasdaq.
Tyler and Cameron Winklevoss are looking to raise US$20.9 million from selling their 1 million shares, as each share will be priced at US$20,09. It will be interesting to see if these shares will sell like the proverbial hot cakes, or whether investors are still as wary of Bitcoin as they have always been, and steer away from the ETF on Nasdaq.