Tyler and Cameron Winkelvoss, the twins best known for suing Facebook chief executive Mark Zuckerberg, and the main backers of Bitcoin, are planning to launch an exchange-traded fund for the virtual currency.
According to a regulatory filing made with the US Securities and Exchange Commission (SEC), the Winkelvoss Bitcoin Trust will look to sell a million Bitcoin shares, each valued at 0.20 Bicoins which, “will represent a cost-effective and convenient means to access exposure to Bitcoins.”
The trust’s sponsor is Math-Based Asset Services, a Delaware limited liability company formed on 9 May 2013, which is wholly-owned by Winklevoss Capital Management.
