The Winklevoss ETF Could Be Interesting
The notorious twins’ new fund1 is slated for approval from the Securities and Exchange Commission by the end of 2014, and it’s something to keep an eye on regardless of what you think of them. Imagine the e-trade baby getting his diaper wet over some exposure to bitcoin without having to mess with the stuff himself. The fact is, this makes bitcoin an easier pill to swallow for the average investor. Additionally, it’ll draw in all the bears who want to see bitcoin die in a fire and short the hell out of it anticipating more negative press. Fuck it, the more the merrier. But what remains to be seen is what picture the SEC and further IRS rulings will paint for the bitcoin ecosystem down the road.
Another thing: will there be other ETFs that include a whole basket of crypto currencies? I can see some interesting stuff on the horizon especially if they start including assets traded on ripple in such a fund. Speaking of which, where are ETFs traded on ripple? Now that is something I hope to see soon.
- http://www.investopedia.com/articles/investing/041114/why-winklevoss-twins-new-bitcoin-etf-matters.asp [↩]