A couple of weeks ago, we reported on the Winklevoss brothers and how they get the green light from the SEC (the securities and exchange commission). Now it is finalized and official: the Winklevoss Bitcoin thrust will be added to the NASDAQ under the sign of COIN.
Regardless if this will work or not the Winklevoss brothers are the first ones who created a publicly-listed Bitcoin Exchange Trading Fund (ETF).Nevertheless we think that the Winklevoss brothers will succeed in their endeavors. Furthermore the Winklevoss brothers convinced the SEC of their plans, which is notoriously difficult since the SEC is suspicious to every new business that wants to get onto the stock exchanges.
Let’s focus in on the document: The Winklevoss brothers will give out 1 million shares of Bitcoin. Each shares is one-fifth of a Bitcoin. The price per share is about 20 dollars, which is a fair price. In the document the SEC also warns that “investing in shares does contain significant risk”. Do not overly worry about this though. It is standard to inform people about the risks involved when investing in financial products.
We will keep you updated when the news develops.