{"id":179,"date":"2014-07-12T14:53:00","date_gmt":"2014-07-12T14:53:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/analysrs-winklevoss-bitcoin-etf-to-sec\/"},"modified":"2014-07-12T14:53:00","modified_gmt":"2014-07-12T14:53:00","slug":"analysrs-winklevoss-bitcoin-etf-to-sec","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/07\/analysrs-winklevoss-bitcoin-etf-to-sec.html","title":{"rendered":"Analysts: Winklevoss Bitcoin ETF to pass SEC approval"},"content":{"rendered":"<div style=\"text-align: justify;\">\nAs the Winklevoss twin\u2019s highly-anticipated, not to mention first of its kind <a href=\"https:\/\/holytransaction.com\/page\/what-is-bitcoin\" style=\"font-family: Arial, Helvetica, sans-serif;\">bitcoin<\/a> exchange traded fund, inches its way towards becoming a reality, ETF analysts are weighing on the likeliness of the fund securing the SEC\u2019s approval.&nbsp;<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\nChief <a href=\"http:\/\/www.ibtimes.com\/winklevoss-bitcoin-etf-will-likely-pass-federal-scrutiny-eventually-experts-say-1626106#\">Investment<\/a> Officer of <a href=\"http:\/\/etf.com\/\">ETF.com<\/a>, Dave Nadig, tells <a href=\"http:\/\/www.ibtimes.com\/winklevoss-bitcoin-etf-will-likely-pass-federal-scrutiny-eventually-experts-say-1626106\">International Business Times<\/a>:&nbsp;<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n\u201cI don\u2019t see very much in the way of impediments to it at this point, \u201ceverything I see in the Bitcoin filing is by the book so it would be a surprise if they officially deny it. If they pocket veto it and kind of ignore it for a while\u2026 that\u2019s a possibility.\u201d<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\nThe Winklevoss twins, who have claimed to own as many as 1% of all bitcoins in circulation, recently revealed in their fourth filing since the ETF\u2019s initial proposal that the fund will trade on the NASDAQ under the \u2018COIN\u2019 symbol.<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\nThe twins\u2019 bitcoin ETF seeks to appeal to investors who want to get in on the digital currency under regulated conditions, which further opens the door to large institutional investors who cannot yet hold bitcoin directly on brokerage statements. Furthermore, the fund hopes to mitigate the risk often associated with storing the digital currency while providing a template for tax reporting.&nbsp;<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n<a href=\"http:\/\/www.etftrends.com\/\">ETFtrends<\/a> web editor, Todd Shriber explains:&nbsp;<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n\u201cIf the Bitcoin ETF is classified as a commodity ETF, the rate of tax they\u2019ll be paying will much higher than if they bought a currency ETF.\u201d<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\nETFtrends.com editor and president of Global Trends Investments, Tom Lydon says that given the twins\u2019 openness about the status of the ETF, which can only go so far due to SEC laws and procedures, the likeness of it securing approval is highly likely:&nbsp;<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n\u201cI would feel strongly it\u2019s going to happen it may not be as soon as people would hope, I wouldn\u2019t imagine they would continue talking about it and making progress if in fact it would not come to fruition.\u201d<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\nLydon tells IBT that the largest impediment in terms of acquiring investors will lie in the education of those interested parties. However, thankfully, he adds, \u201cthey\u2019re pretty good at explaining what Bitcoin is.\u201d<\/div>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>As the Winklevoss twin\u2019s highly-anticipated, not to mention first of its kind bitcoin exchange traded fund, inches its way towards becoming a reality, ETF analysts are weighing on the likeliness of the fund securing the SEC\u2019s approval.&nbsp; Chief Investment Officer of ETF.com, Dave Nadig, tells International Business Times:&nbsp; \u201cI don\u2019t see very much in the [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,37,468,542],"tags":[704,1126,1201],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Analysts: Winklevoss Bitcoin ETF to pass SEC approval -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2014\/07\/analysrs-winklevoss-bitcoin-etf-to-sec.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analysts: Winklevoss Bitcoin ETF to pass SEC approval\" \/>\n<meta property=\"og:description\" content=\"As the Winklevoss twin\u2019s highly-anticipated, not to mention first of its kind bitcoin exchange traded fund, inches its way towards becoming a reality, ETF analysts are weighing on the likeliness of the fund securing the SEC\u2019s approval.&nbsp; 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