"The investment objective of the Trust is for the Shares to reflect the performance of the price of Bitcoins, as measured by the Winklevoss IndexSM (“WinkdexSM”), less the Trust’s expenses. The Sponsor believes that, for many investors, the Shares will represent a cost-effective and convenient means to access exposure to bitcoins. The Shares represent units of fractional undivided beneficial interest in and ownership of the Trust and are expected to be traded under the ticker symbol “COIN” on the NASDAQ."
So investors will have the chance to invest in shares aka "convenient means to access exposure to bitcoins?" In turn will be traded on NASDQ under the ticker "COIN?"
So effectively bitcoins will be traded on the stock exchange?
Topic: Winklevoss ETF update, what does this mean? - page 9. (Read 9515 times)
They will be selling shares of their BTC fund.
SHARE and ETF is not BTC.
This will be huge imo, it will legitimate Bitcoin x m00n
It means strap on your seatbelts folks, this rocket ship is about to take off!
http://i.imgur.com/CbeOgFW.png
Much wow once the COIN ETF launches.
http://i.imgur.com/CbeOgFW.png
Much wow once the COIN ETF launches.
THX for new wallpaper.
It means buckle your seatbelt dorothy cause kansas is going bye-bye
It means strap on your seatbelts folks, this rocket ship is about to take off!
Much wow once the COIN ETF launches.
Much wow once the COIN ETF launches.
They will be selling shares of their BTC fund.
SHARE and ETF is not BTC.
Yes M, thank you for chewing it out for me
They will be selling shares of their BTC fund.
SHARE and ETF is not BTC.
Winklevoss ETF update, what does this mean?
------> in 2014 : MtGox (little finger in your ass)
------> in 2015 : 2 time more : double combo Wink in your ass (when you want REAL BTC...)
------> in 2014 : MtGox (little finger in your ass)
------> in 2015 : 2 time more : double combo Wink in your ass (when you want REAL BTC...)
It means the periwinkles need to recover some of the money they lost on Bitinstant.
Taken from: http://www.etf.com/sections/features/23846-winklevoss-bros-beware-bitcoin-etf-risks.html
Quote
Investors need to go into a bitcoin ETF with ‘eyes wide open,’ the Winklevoss brothers say.
There are many questions surrounding the Winklevoss Bitcoin Trust ETF (COIN) such as its viability as an investment vehicle, its first-of-a-kind exposure to an unregulated crypto-currency, and ultimately where it fits in portfolios.
There’s, indeed, a lot of conversation taking place about this fund, which remains in the regulatory pipeline awaiting SEC approval. But to Cameron and Tyler Winklevoss—the heads behind the idea—a bitcoin ETF should deliver, first and foremost, a return path that’s similar to that of a precious metals ETF. But the ride will be mired in risks, some of which are still evolving as the space grows.
The brothers will speak more extensively about their plans at the upcoming Inside ETFs conference in Hollywood, Florida, in January. Here they answered a few questions by email.
ETF.com: What's the investment thesis for a bitcoin ETF?
There are investors and funds that would like to gain exposure to this asset class, but may be unable or unwilling to hold bitcoin directly, or may not want to buy bitcoins from an unregulated foreign bitcoin exchange.
Investors historically have chosen to offload the friction of directly buying and securing assets such as gold for a reasonable fee. We believe investors will behave the same with regard to bitcoin. Also, since the ETF will be listed on the Nasdaq, investors will be able to trade their shares in the ETF like they would any other stock in a public company.
ETF.com: Do you see a bitcoin ETF as a currency ETF, or as something different?
Bitcoin is most similar to a commodity, and our bitcoin ETF is similar to precious metals ETFs like the SPDR Gold Trust (GLD | A-100).
ETF.com: U.S. investors in currency ETFs bear the currency risk, but also earn the interest rate of the currency they're investing in. Bitcoin has no such rate of return, correct? Is it akin to gold in this respect?
Yes, bitcoin, like gold, does not have a rate of return.
ETF.com: Bitcoin is very volatile. What are the main risks investors would face if they own the ETF? How is the pricing benchmarked in the fund?
Right now, bitcoin is behaving like a new and unregulated asset class that’s in the process of becoming regulated. You could also think of it like an early-stage technology—it’s going to be volatile at this stage; that's what should be expected.
Because of this, we included an exhaustive list of risk factors in our S-1, including risks that are unique to bitcoin. We continue to update the disclosure to reflect risks as they develop. We want investors going in with their eyes wide open. Investors should review the risk factors in the registration statement.
The value of the Winklevoss Bitcoin Trust will be priced daily off of the Winklevoss Index (WinkDex), which is a pioneering effort in the analysis and presentation of global bitcoin pricing and which currently uses data from the most active qualified U.S.-dollar-denominated bitcoin exchanges.
Attend Inside ETFs, the World's Largest ETF Conference!
There are many questions surrounding the Winklevoss Bitcoin Trust ETF (COIN) such as its viability as an investment vehicle, its first-of-a-kind exposure to an unregulated crypto-currency, and ultimately where it fits in portfolios.
There’s, indeed, a lot of conversation taking place about this fund, which remains in the regulatory pipeline awaiting SEC approval. But to Cameron and Tyler Winklevoss—the heads behind the idea—a bitcoin ETF should deliver, first and foremost, a return path that’s similar to that of a precious metals ETF. But the ride will be mired in risks, some of which are still evolving as the space grows.
The brothers will speak more extensively about their plans at the upcoming Inside ETFs conference in Hollywood, Florida, in January. Here they answered a few questions by email.
ETF.com: What's the investment thesis for a bitcoin ETF?
There are investors and funds that would like to gain exposure to this asset class, but may be unable or unwilling to hold bitcoin directly, or may not want to buy bitcoins from an unregulated foreign bitcoin exchange.
Investors historically have chosen to offload the friction of directly buying and securing assets such as gold for a reasonable fee. We believe investors will behave the same with regard to bitcoin. Also, since the ETF will be listed on the Nasdaq, investors will be able to trade their shares in the ETF like they would any other stock in a public company.
ETF.com: Do you see a bitcoin ETF as a currency ETF, or as something different?
Bitcoin is most similar to a commodity, and our bitcoin ETF is similar to precious metals ETFs like the SPDR Gold Trust (GLD | A-100).
ETF.com: U.S. investors in currency ETFs bear the currency risk, but also earn the interest rate of the currency they're investing in. Bitcoin has no such rate of return, correct? Is it akin to gold in this respect?
Yes, bitcoin, like gold, does not have a rate of return.
ETF.com: Bitcoin is very volatile. What are the main risks investors would face if they own the ETF? How is the pricing benchmarked in the fund?
Right now, bitcoin is behaving like a new and unregulated asset class that’s in the process of becoming regulated. You could also think of it like an early-stage technology—it’s going to be volatile at this stage; that's what should be expected.
Because of this, we included an exhaustive list of risk factors in our S-1, including risks that are unique to bitcoin. We continue to update the disclosure to reflect risks as they develop. We want investors going in with their eyes wide open. Investors should review the risk factors in the registration statement.
The value of the Winklevoss Bitcoin Trust will be priced daily off of the Winklevoss Index (WinkDex), which is a pioneering effort in the analysis and presentation of global bitcoin pricing and which currently uses data from the most active qualified U.S.-dollar-denominated bitcoin exchanges.
Attend Inside ETFs, the World's Largest ETF Conference!
Taken from: http://www.etf.com/sections/features/23846-winklevoss-bros-beware-bitcoin-etf-risks.html
guess we are doomed? Winklevoss switched to Paycoin i heard - much wow!
It means BTC going public stock exchange... Well, kind of... They will be selling shares of their BTC fund.
Any price range given?
They gonna dump their own Bitcoin on the ETF now in a short lived buying frenzy to fill the fund.
Thats what it means to me. No market reaction, yet.
IPO: http://www.nasdaq.com/markets/ipos/company/winklevoss-bitcoin-trust-909930-72927
They gonna dump their own Bitcoin on the ETF now in a short lived buying frenzy to fill the fund.
Thats what it means to me. No market reaction, yet.
IPO: http://www.nasdaq.com/markets/ipos/company/winklevoss-bitcoin-trust-909930-72927
It only means that the Winky bros need some little money in 2015
Instead I think that the next year carousel will start to turn ! And with winklevoss ETF we will see many thing that will happen ! Many Bitcoin data has increased this year, only thing which is decrease is price !
It only means that the Winky bros need some little money in 2015
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