[2014-01-30] Bloomberg - Winklevosses’ Lawyer in Talks With SEC Over Bitcoin ETF

[firstlast]

http://www.bloomberg.com/news/2014-01-30/winklevosses-lawyer-in-talks-with-sec-over-bitcoin-etf.html

The attorney, who helped obtain regulatory clearance for the first U.S. ETF more than 20 years ago, said the Bitcoin proposal has almost no chance of being approved in 2014.

[1714782593]

1714782593

[1714782593]

1714782593

[1714782593]

1714782593

[1714782593]

1714782593

[1714782593]

1714782593

[1714782593]

1714782593

[2dogs]

Not very encouraging, is it?

Perhaps that is a good thing?

The devil is in the details....

[danieldaniel]

http://www.bloomberg.com/news/2014-01-30/winklevosses-lawyer-in-talks-with-sec-over-bitcoin-etf.html

The attorney, who helped obtain regulatory clearance for the first U.S. ETF more than 20 years ago, said the Bitcoin proposal has almost no chance of being approved in 2014.

Well, I'm pretty sure that all ETF's take months-years to be approved by the SEC.  I doubt that it's just because of Bitcoin (although I'm sure it does make the process more complicated).

[hilariousandco]

I'm sure they can put those coins to good use even if this doesn't pass. They've already made a tidy profit regardless.

[zeetubes]

I'm sure the SEC will do everything it can to block or delay the approval of this particular ETF. Unlike the bitcoin funds which only allow rich people to invest, an ETF allows just about anyone to buy in. I remember reading about the process of setting up the first gold ETF. But gold requires physical storage. BTC is not so cumbersome to store. If it does get approved then I hope naked shorting is not allowed.

""Regulators and law-enforcement officials have expressed concern that virtual currencies could facilitate money laundering and sales of illegal goods. ""

I don't think the ETF will be a huge money laundering issue.