One of the bigger headlines last year was news that the Winkelvoss twins — Tyler and Cameron — were starting a bitcoin ETF (exchange-traded fund). But before such a fund could be launched, they’d be required to jump through hoops and get approved by the Securities and Exchange Commission (SEC). And given that this the first of its kind, there has been doubt about whether or not it will get the seal of approval.
According to lawyer handling the trust, Evan Greebel, things are going well.
“The SEC has generally been receptive,” said Greebel, according to the Wall Street Journal. “We are working through common procedures and working through the registration process and we have not gotten any show stoppers. We think the SEC understands the nature of the project and understands that it does bring stability to bitcoin.”
But while things are considered to be going well, Greebel doesn’t want take guesses on whether or not the fund will ultimately be approved, and if it is, when.
For now, though, things are looking positive. We’ll have more information on this ETF as it becomes available (via WSJ)