Author

Topic: Information on 2nd market and Winklevoss ETF (Read 714 times)

msc
sr. member
Activity: 282
Merit: 250
December 11, 2013, 02:33:40 AM
#3
does 2nd Market bitcoin trust fund simply buys bitcoins as soon as they receive funds or do they pick and choose/ trade?
Quote
The Bitcoin Investment Trust (BIT) is a private, open-ended trust that is invested exclusively in bitcoin and derives its value solely from the price of bitcoin.
That means that they may delay their Bitcoin purchases for a little while after receiving cash, and they may hold enough cash to satisfy withdrawals.  But they shouldn't be actively trading Bitcoin, because then the price of the fund wouldn't follow the price of Bitcoin.
hero member
Activity: 924
Merit: 1001
December 11, 2013, 02:25:38 AM
#2
Someone here said minimum of a year after applying, for most ETF's .... so there's a long ... long wait still.

It's barely been a couple months.
full member
Activity: 238
Merit: 100
December 11, 2013, 02:22:37 AM
#1
I am curious as to when and if the Winklevoss ETF will be approved.  Also, does 2nd Market bitcoin trust fund simply buys bitcoins as soon as they receive funds or do they pick and choose/ trade?
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