Winklevoss Bitcoin Trust (COIN ETF) to Launch in 2014

[Raystonn]

http://www.nasdaq.com/markets/ipos/company/winklevoss-bitcoin-trust-909930-72927

"The Trust is a common law trust, formed on [ ], 2014 under New York law..."

[doggieTattoo]

http://www.nasdaq.com/markets/ipos/company/winklevoss-bitcoin-trust-909930-72927

"The Trust is a common law trust, formed on [ ], 2014 under New York law"

I sure do hope that you are right about this. I think however that it is likely the 2014 is just a placeholder with them assuming that the SEC will approve their application and allow the IPO by the end of the year.

[Raystonn]

http://www.nasdaq.com/markets/ipos/company/winklevoss-bitcoin-trust-909930-72927

"The Trust is a common law trust, formed on [ ], 2014 under New York law"

I sure do hope that you are right about this. I think however that it is likely the 2014 is just a placeholder with them assuming that the SEC will approve their application and allow the IPO by the end of the year.

[ ] is a placeholder.  If they didn't know the year they'd have included it in the [ ].

[Possum577]

I can't wait for this to become a reality. It'll be nice to have an ETF like way to speculate on the BTC price.

[Hunyadi]

Excellent news! After the launch, "traditional" investors can for example hedge their portfolios easily.

[Jamacn]

now, 2014 is coming to the end for a few months

[lyth0s]

How long has it said  "The Trust is a common law trust, formed on [  ], 2014 under New York law
pursuant to the Trust Agreement..." for? Was it recently updated to state this?

[grappa_barricata]

[bitschool]

How will ETF affect the price, why is it so important?

[FNG]

How will ETF affect the price, why is it so important?

It provides an on-ramp to Trillions of Dollars. It gives bitcoin additional legitimacy. It allows institutions that are bound by rules to enter the market.

[medUSA]

The ETF has received this status a few months ago. This just means it is just reserving the ticker "coin", it doesn't mean it will be trading on NASDAQ any time soon. There are reserved tickers on NASDAQ but never traded for years.

[Hunyadi]

The ETF has received this status a few months ago. This just means it is just reserving the ticker "coin", it doesn't mean it will be trading on NASDAQ any time soon. There are reserved tickers on NASDAQ but never traded for years.

[lyth0s]

For every 5 shares of the COIN ETF the winklevoss brothers will hold 1 bitcoin. If there is demand over the amount of coins they already have, the will then buy 1 bitcoin from the market for every new 5 share purchases so if it takes off it can create some serious demand for bitcoins.

[clickhero]

For every 5 shares of the COIN ETF the winklevoss brothers will hold 1 bitcoin. If there is demand over the amount of coins they already have, the will then buy 1 bitcoin from the market for every new 5 share purchases so if it takes off it can create some serious demand for bitcoins.

Thanks for the simple explanation, it's the first time I can understand a thing about ETF

[Bejkn]

come on, boys, I wait for you buying your ETF much

[wachtwoord]

It's supiscious how quiet it is around this for so long.

[zimmah]

Since they are essentially selling their own bitcoin first, aren't they just waiting for the price to rise before making the big launch officially?

Maybe they are already approved, but wait for the price to rise before bringing the news, so their first coins can sell for a bigger profit?

[cdooer]

For every 5 shares of the COIN ETF the winklevoss brothers will hold 1 bitcoin. If there is demand over the amount of coins they already have, the will then buy 1 bitcoin from the market for every new 5 share purchases so if it takes off it can create some serious demand for bitcoins.

Thx for the extremely simple explanation, I had no idea that's how it was going to work. I feel like I've learned something today...that's it, time to go home, even though I just got to work. 

[Fabrizio89]

They said it for a while that in Q4 2014 may be the launch date.
On a side note, the first gold ETF was launched on November 2004 if I'm not mistaken. It would be too funny to see the next big thing go to wall street 10 years later, will make people think how fast technology is moving nowadays.

[wezphoto]

Most people here is waiting for the ETF, it could really change bitcoin's destiny.