2013-07-01 WSJ - Winklevoss Twins File to Launch Bitcoin Exchange-Traded Product

[aigeezer]

There is a poll today on yahoo finance about this most of the choices as well as the votes are negative tho.  

link? found it

link?

"Beware of Bitcoin ETF" they say in that subtle way they have.

http://finance.yahoo.com/blogs/breakout/winklevosses-trying-bring-bitcoin-mainstream-investors-171834667.html

[aigeezer]

There is a poll today on yahoo finance about this most of the choices as well as the votes are negative tho.  

link? found it

link?

"Beware of Bitcoin ETF" they say in that subtle way they have.

http://finance.yahoo.com/blogs/breakout/winklevosses-trying-bring-bitcoin-mainstream-investors-171834667.html

Edit: Sorry, that was one story among many from Yahoo. Correct link for the poll: http://finance.yahoo.com/news/winklevoss-twins-plan-first-fund-005347631.html

[Scott J]

Thank you 

[n8rwJeTt8TrrLKPa55eU]

I recommend looking at the chart of gold after 2004 or silver after 2006 in order to understand the impact of ease-of-purchase and institutional money flowing into an asset that was formerly cumbersome to buy.

Basically if this thing gets approved (and I see no reason for it not to be), there will likely be another large parabolic rise.

Not to mention that I have never seen so much coverage across so many news outlets for Bitcoin as what has happened though this news.  We should all be grateful to these guys.

The more people that own BTC (even if indirectly through an ETF), the more difficult it will be for governments to attempt to pull the plug.  As a politician, you don't wanna be the guy that torpedos an asset that's held in a bunch of people's retirement brokerage accounts.

[overc]

As a politician, you don't wanna be the guy that torpedos an asset that's held in a bunch of people's retirement brokerage accounts.

+100,000BTC !
That is the best point in the protection of BTC from some of stupid government decisions which I have ever heard!

[vokain]

As a politician, you don't wanna be the guy that torpedos an asset that's held in a bunch of people's retirement brokerage accounts.

+100,000BTC !
That is the best point in the protection of BTC from some of stupid government decisions which I have ever heard!

who cares if you flee the country with bitcoins (REAL bitcoins mind you, we're not about that paper-cert life) bought with ill-gotten gains :p

[21stcenturymoney]

The interesting thing is the filing keeps referring to their holdings as "math-based assets."  I'm wondering if this leaves room for alt currencies.

Actually, the filing never refers to their holdings as just "math-based assets", it specifically refers to their holdings as "Bitcoins", defined as "a type of a Digital Math-Based Asset". The filing does refer to altcoins as examples of alternative Digital Math-Based Assets and Bitcoin's competion, though the Trust does not deal in anything other than bitcoins specifically.

Exactly.  Even if there was demand for a ETF for an alternative CC it wouldn't make sense for a single ETF and single trust to handle both.  I mean there are Physical Gold ETFs and Physical Silver ETFs but you don't see mixed Silver & Gold ETFs.  Ticker symbols are cheap and there are thousands of ETFs.  If the first one gets approved and there is demand no reason you couldn't have a whole family of CC based ETFs.

http://www.invescopowershares.com/products/overview.aspx?ticker=DBP

I am sure there are others.    Though most ETFs do not have an asset manager so I guess if they wanted to creat a mixed fund they would have to define a mix pegged to either value in a fiat currency,  or to one of the other currencies to maintain.

[21stcenturymoney]

What will be the smallest number of shares one can buy?

1? Or 100?  More?

Usually 1, but if you buy less then 100 you have to pay a odd lot fee.

I never understood what's the advantage of buying shares in a trust over buying the underlying commodity itself.

Well i'm just a private individual not a VC though.

Liquidity, storage, dealing with delivery.