Winklevoss twins choose State Street as administrator and transfer agent of Bitcoin ETF
Cameron and Tyler Winklevoss, the co-founders of Gemini bitcoin exchange, have chosen State Street as the administrator and transfer agent for the Winklevoss Bitcoin Trust, their proposed bitcoin exchange-traded fund (ETF).
In its capacity as the Trust’s administrator, State Street will be responsible for the day-to-day administration of the Trust which includes maintaining the books of account; calculating the NAV; transmitting the NAV per Share to the transfer agent, the sponsor, Bats, and other entities as directed by the sponsor; and preparing financial information. As the Trust’s transfer agent, State Street will provide its services with respect to the creation and redemption of ‘Baskets’ by authorized participants; the issuance and redemption of shares, the payment, if any, of distributions with respect to the shares; the recording of the issuance of the shares and the maintaining of certain records.
http://www.econotimes.com/winklevoss-twins-choose-state-street-as-administrator-and-transfer-agent-of-bitcoin-etf-357760