ETA for the ETF? (and Gemini Exchange speculation)

[Fabrizio89]

ETF is a joke, doesn't make sense to still talk about it. Anyway if it will ever hit, we will be at sub 100 by then. Too much hype for everything, no substance in the end.

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[Amph]

ETF is a joke, doesn't make sense to still talk about it. Anyway if it will ever hit, we will be at sub 100 by then. Too much hype for everything, no substance in the end.

it's not that it is a joke, the problem is that i can't understand what they are waiting for, when the bitlicence is done and they are free to initiate their exchange at least, they are still far away even on that regard

are they facing tech problem or it is something else, they should at least say saomething about it

[Dexter770221]

....
are they facing tech problem or it is something else, they should at least say saomething about it

No tech problem, just legal problem. They need to get approved. And yes, they can't talk about it.

[Fabrizio89]

They can't talk because there's nothing to be said imho

[gentlemand]

it's not that it is a joke, the problem is that i can't understand what they are waiting for, when the bitlicence is done and they are free to initiate their exchange at least, they are still far away even on that regard

are they facing tech problem or it is something else, they should at least say saomething about it

They have to convince an army of stuffy people at the SEC to give the seal of approval to a totally new asset class. They recruited the best lawyer to do it but she reckoned it would be a process of years.

It took long enough to launch ETFs related to gold, let alone something as new as BTC.  

[jehst]

it's not that it is a joke, the problem is that i can't understand what they are waiting for, when the bitlicence is done and they are free to initiate their exchange at least, they are still far away even on that regard

are they facing tech problem or it is something else, they should at least say saomething about it

They have to convince an army of stuffy people at the SEC to give the seal of approval to a totally new asset class. They recruited the best lawyer to do it but she reckoned it would be a process of years.

It took long enough to launch ETFs related to gold, let alone something as new as BTC.  

Even if COIN launches, I doubt Wall Street is just going to pump up the price and let all of us dump on them. Bitcoin must rise on the strength of its economy. GBTC, COIN, Gemini.. none of these are gamechangers. I'm more hopeful about things like Abra. Eventually, one of these apps will eventually be our Uber or Airbnb.

[Elwar]

6 months

[farting_shot]

Last time I checked, it was 3 to 4 years at the least.

[bitnanigans]

Still looking forward to news on the Gemini exchange.

[LFC_Bitcoin]

6 months

Is that for Gemini to begin trading or the ETF to be approved? I think the Gemini opening will be a matter of months, it should be very positive for the price of BTC but the COIN ETF is nowhere near being approved I fear. It's supposed to be a much more complex, strictly regulated thing to get going. I don't even want to hazard a guess at predicting a date for COIN ETF approval/regulation.
The Winklevoss twins don't seem to know either reagarding the ETF or they don't let anything slip in interviews any way. The ETF will be huge for us, patience is key though.

[tommy69778]

Still looking forward to news on the Gemini exchange.

I wouldn't expect any news in a hurry. If it was going to be launched soon the twins would have made a statement about it during their recent interview by Nathaniel Popper. I don't think it will be soon because they avoided talking about the issue.

[neurotypical]

They are taking their time and i understand the delays. At this point in their life, they don't really want more money, they want to be remembered. A lot of pride is on the line. One mistake and you go down in history as a big flop, do it well and you go down in history as one big player in the Bitcoin revolution. When you have that much amount of money when you are young you just want to be remembered, thats why a lot of rich young people invest in buildings etc.

[monsanto]

Judging from their latest instagram post I don't think Gemini is about to launch any time soon. They're too busy posting this cheesy crap:

[saturn643]

These guys don't pump millions of dollars into a project unless they think it has some chance of success. As demand increases and supply contracts, price has go up.

[thrax]

Judging from their latest instagram post I don't think Gemini is about to launch any time soon. They're too busy posting this cheesy crap:

I think you're right about that.

Also if their cheesy crap they posted was correct then how did Mark Zuckerberg's one mind beat their two combined minds in the fight over Facebook?

As soon as they have an inkling of when Gemini might open I'm sure it will be all over the internet. They probably don't know when it's opening themselves yet.

[monsanto]

Gemini exchange application submitted:

http://www.coindesk.com/gemini-exchange-trust-filing/

Pete Rizzo (@pete_rizzo_) | Published on July 24, 2015 at 14:46 BST

Entrepreneurs Cameron and Tyler Winklevoss have filed an application for a limited liability trust company in New York.

The filing for Gemini Trust Company, if approved by the New York State Department of Financial Services (NYDFS), would enable the Winklevoss brothers to launch Gemini, their forthcoming bitcoin exchange product first announced in January.

The announcement notably follows itBit's May announcement that it received a trust company charter from the NYDFS. Under New York banking law, trust companies are financial institutions that, while unique from banks, are able to take deposits and issue loans.

Upon launch, Gemini will join itBit as the second bitcoin exchange to launch services in New York following the passage of the BitLicense earlier this year.

A spokesperson for the NYDFS confirmed the agency has received the application and that it is currently under review.

Recent Gemini twitter re-tweet:

Gemini retweeted
 techspunk ‏@techspunk 
Those @tylerwinklevoss  @winklevoss guys are up to something pretty big, Ive a feeling that we are not too far away from seeing it #bitcoin

[Chef Ramsay]

Perfect timing. Get this thing primed and on a path to legit-ness right as the price is starting to make significant moves up. Traders will be chomping at the bit to get in when the ink is dried from the NYDFS and an explosion in price upwards will blow your fucking mind.

[Patel]

lol you guys are over estimating the winkles.

also, the etf is not going to happen anytime soon (within the next year).

They even switched legal advisors, for Gemini trust license they are now using Kaye Scholer LLP instead of Katten Muchin Rosenman LLP (which is/was used for their ETF)

I guess Katten Muchin Rosenman LLP couldn't get the job done, so they found another attorney.

good indicator: a few months before the ETF goes live because they will submit another S-1A excluding companies like mtgox, btc-e, and including companies like itbit, gemini, coinbase exchange etc

I think the SEC looked at the current, and previous, S-1A's with all those shady companies and laughed.

also, Gemini and ETF are unrelated. gemini is not a magic pill to get the ETF approved.

Gemini and itBit are practically the same in terms of regulations. And itBit is already launched. ETF's dont require the sponsors to launch their own exchange.

[gentlemand]

Hmm. In principle Itbit does everything people want from Gemini and it's here right now. It's growing but it didn't shake the world. What are the Winklevii packing that Itbit isn't? Marketing and contacts?

If Gemini has to happen to ease the ETF's way, Itbit covers that function too.

[brg444]

lol you guys are over estimating the winkles.

also, the etf is not going to happen anytime soon (within the next year).

They even switched legal advisors, for Gemini trust license they are now using Kaye Scholer LLP instead of Katten Muchin Rosenman LLP (which is/was used for their ETF)

I guess Katten Muchin Rosenman LLP couldn't get the job done, so they found another attorney.

good indicator: a few months before the ETF goes live because they will submit another S-1A excluding companies like mtgox, btc-e, and including companies like itbit, gemini, coinbase exchange etc

I think the SEC looked at the current, and previous, S-1A's with all those shady companies and laughed.

also, Gemini and ETF are unrelated. gemini is not a magic pill to get the ETF approved.

Gemini and itBit are practically the same in terms of regulations. And itBit is already launched. ETF's dont require the sponsors to launch their own exchange.

You should check the facts before sharing your fud  

http://www.dfs.ny.gov/reportpub/wb150724.htm

July 22, 2015 (TR-CRB)
GEMINI TRUST COMPANY, LLC
30 West 24th Street, 4th Floor, New York, New York 10010
Articles of Organization received.

Organizers

Cameron H. Winklevoss, New York, NY
Tyler H. Winklevoss, New York, NY
Evan L. Greebel, Scarsdale, NY
Charles R. Macedo, Ardsley, NY
Kathleen H. Moriarty, New York, NY