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Winklevoss Twins Plan Bitcoin Fund

Jul 3 2013, 9:03am CDT | by , in News | Technology News

Winklevoss Twins Plan Bitcoin Fund

Winklevoss Twins try to make a fund for Bitcoins. They filed documents with the SEC beginning of the week.

The bitcoin currency exists outside of government control. There was quite some hype around Bitcoins this year, but also lots of controversy and already several government crack-downs. Still, according to the New York Times, the Winklevoss Twins want to make Bitcoins a normal investment vehicle. They filed a proposal with the securities regulators. on Monday.

Tyler and Cameron Winklevoss have invested quite a bit in Bitcoins. Their plan is to create an exchange-traded fund containing just bitcoins. The Winklevoss Bitcoin Trust would bring bitcoins to every retail investor and not just the current insiders and programmers. I am not convinced that their plan will go through as the government is likely not interested to give digital currencies more distribution. On the other hand this could be a way in for the government to regulate this digital currency. More details on the New York Times.

Bloomberg has a good analyses of the Winklevoss plan and comes to the conclusion that it would be bad idea to invest in Bitcoins.

Photo Credit: Getty Images

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