The Winklevoss twins, Tyler and Cameron, have marked a further milestone in the crypto market with the acquisition of a patent for the creation of a long-awaited Bitcoin Exchange-Traded Fund (ETF). The Patent was already on 19. In June, the Winklevoss brothers have been granted.
The Patent describes a method “for providing a exchange-traded product, the digital mathematical assets”, as well as the issue of shares, which are tied to this ETP (Exchange Traded Product). The Patent includes a whole bunch of crypto-currencies, including Bitcoin, Litecoin, Ether, Monero, Ripple, and many more unknown crypto currencies, such as the mega coins and YbCoins.
The Patent was awarded to a company called Winklevoss IP LLP. Both of the Winklevoss brothers are listed as the inventors together with Evan Louis Greebel, Kathleen Hill Moriarty, and Gregory Elias Xethalis.
With the Patent, the Winklevoss twins, who is also the founder and owner of the crypto currency stock exchange Gemini, your collection add another Patent. Still, however, be questionable, whether, and when, the brothers use the Patent actually is, and Bitcoin and/ or crypto-ETFs offer. Already in 2013, and last year, the Winklevoss twins have filed an application with the Securities and Exchanges (SEC) for approval for a Bitcoin ETF. However, these were rejected by the financial Supervisory authority.
Since then, and especially after the launch of Bitcoin Futures contracts by CME Group and the CBOE there were at the beginning of this year, around a dozen applications for ETFs with the SEC. However, previously rejected all requests. As reasons for the rejection of the SEC called the volatility, lack of liquidity and, above all, the lack of regulation.
Exchange Traded Funds ETFs are publicly traded investment funds, which are not output via the issuing investment company, but on a stock exchange are traded.
It is noteworthy that the Winklevoss brothers have already received a few weeks ago, a Patent for a System, the transactions for ETPs, which are linked to crypto currencies, handles.
The current Patent is the seventh in a Cryptocurrency-related Patent, which the founders of the Gemini-crypto exchange. Apparently, Tyler and Cameron Winklevoss are actively working on the further development and Expansion of crypto – related trade instruments.