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Winkelvoss twins plan Bitcoin ETF


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.

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