The question is if the SEC will ever allow a Bitcoin ETF without the OK from the establishment. Issuing an ETN instead will be no real option since we already have a Bitcoin ETN and its properties are less attractive from a dedicated investor's viewpoint. So the Winklevii might be out of luck (again).
Regardless I'm sure that all those instruments are only an intermediary solution for the technologically inept Wallstreet crowd, who is scared of buying and holding the real thing without insurance fireworks attached to it. In two decades Bitcoin technology might be so well established that "Wallstreet derivatives" (stocks, notes and the like) could actually run on a second Bitcoin layer / sidechain, turning accessibility upside down.
ya.ya.yo!
Topic: [2016-05-23] Bloomberg: Here's One Way of Saving the Winklevoss Twins' Bitcoin.. (Read 302 times)
May 23, 2016, 09:56:51 AM
May 23, 2016, 09:45:13 AM
Here's One Way of Saving the Winklevoss Twins' Bitcoin ETF Dream
http://www.bloomberg.com/news/articles/2016-05-23/here-s-one-way-of-saving-the-winklevoss-twins-bitcoin-etf-dream
Quote
The Winklevoss twins seem to have the best timing but the worst luck.
When the Winklevii filed for a physically backed bitcoin exchange-traded fund nearly three years ago, it created a stir. Their zeitgeist-capturing ETF filing garnered more press attention than all 139 new ETF launches that year combined but soon ran into a wall in the form of U.S. securities regulators.
Since then, the twins have made several adjustments to their filing as seen in the list below—presumably in an attempt to address the U.S. Securities and Exchange Commission's concerns. They even picked an exchange (Nasdaq) and a ticker (COIN) and hired prominent ETF lawyer Kathleen Moriarty of Kaye Scholer LLP. Still, no approval has been forthcoming from the SEC in the intervening years.
...
When the Winklevii filed for a physically backed bitcoin exchange-traded fund nearly three years ago, it created a stir. Their zeitgeist-capturing ETF filing garnered more press attention than all 139 new ETF launches that year combined but soon ran into a wall in the form of U.S. securities regulators.
Since then, the twins have made several adjustments to their filing as seen in the list below—presumably in an attempt to address the U.S. Securities and Exchange Commission's concerns. They even picked an exchange (Nasdaq) and a ticker (COIN) and hired prominent ETF lawyer Kathleen Moriarty of Kaye Scholer LLP. Still, no approval has been forthcoming from the SEC in the intervening years.
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