09 May 2014 / New York Times – Despite cautions and hesitations among regulators about investing in virtual currency, the Winklevoss twins are inching closer to creating the first publicly traded Bitcoin fund.
On Thursday, Cameron and Tyler Winklevoss, the brothers most widely known for their legal battles with Facebook’s co-founder, Mark Zuckerberg, disclosed in a regulatory filing that they had chosen to list their Bitcoin exchange-traded fund, the Winklevoss Bitcoin Trust, on the Nasdaq stock exchange.
The move comes one day after the Securities and Exchange Commission issued a warning to investors about Bitcoin, saying that it created new “concerns” for investors. Federal agencies have been scrambling to figure out how to regulate Bitcoin since the collapse this year of Mt. Gox, one of the most prominent exchanges for buying and selling the virtual currency.
“A new product, technology, or innovation – such as Bitcoin – has the potential to give rise both to frauds and high-risk investment opportunities,” the S.E.C. said in an alert posted to its website….. Read more
