ETA for the ETF? (and Gemini Exchange speculation)

[medUSA]

itBit has insurance covering clients' funds, does Gemini offer the same protection?

yes if they have kept to the original idea
 https://blog.gemini.com/welcome-to-gemini/

It reads: "We are also thrilled to announce that we have secured a banking relationship with a New York State-chartered bank. This means that your money will never leave the country. It also means that US dollars on Gemini will be eligible for FDIC insurance and held by a US-regulated bank. Your US dollars on Gemini will be as safe and secure as they are in your bank account today."

Sounds like only US dollars are covered and cryptos aren't 

Can I guess that Gemini will open tomorrow on Wednesday the 19th? <snip>

Just checked their Twitter (https://twitter.com/GeminiDotCom), no definite dates. If Gemini is due to open soon, they would have given a date. So, expect at least a month. The twins are simply building hype now (bored of it already).

[gotmilk_]

Since Circle got it yesterday... Can we expect the same for Gemini by end of the week? "Soon" 

[Patel]

A couple big things happening for Winklevoss in my opinion.

1. CFTC officially declares bitcoin a commodity. Useful for the ETF because a couple times the Winklevoss' said the SEC is debating how to classify it. And they are following the structure of the gold etf (which is a commodity as well)

2. Bitlicenses starting to be issued. If Gemini gets one, they can launch the exchange.

[rjclarke2000]

A couple big things happening for Winklevoss in my opinion.

1. CFTC officially declares bitcoin a commodity. Useful for the ETF because a couple times the Winklevoss' said the SEC is debating how to classify it. And they are following the structure of the gold etf (which is a commodity as well)

2. Bitlicenses starting to be issued. If Gemini gets one, they can launch the exchange.

What would be a realistic release date in your opinion? Personally I'd be surprised with 2015.

[Fakhoury]

A couple big things happening for Winklevoss in my opinion.

1. CFTC officially declares bitcoin a commodity. Useful for the ETF because a couple times the Winklevoss' said the SEC is debating how to classify it. And they are following the structure of the gold etf (which is a commodity as well)

2. Bitlicenses starting to be issued. If Gemini gets one, they can launch the exchange.

What would be a realistic release date in your opinion? Personally I'd be surprised with 2015.

I guess it would be Q1 of 2016.

[Patel]

A couple big things happening for Winklevoss in my opinion.

1. CFTC officially declares bitcoin a commodity. Useful for the ETF because a couple times the Winklevoss' said the SEC is debating how to classify it. And they are following the structure of the gold etf (which is a commodity as well)

2. Bitlicenses starting to be issued. If Gemini gets one, they can launch the exchange.

What would be a realistic release date in your opinion? Personally I'd be surprised with 2015.

If I had to guess, I would say Q2'16 ish for the ETF, and end of the year for the exchange.

[gotmilk_]

and end of the year for the exchange.

Why so late? Twins said that they only wait for Bitlicense and since the first was now approved... 

[klee]

and end of the year for the exchange.

Why so late? Twins said that they only wait for Bitlicense and since the first was now approved... 

The dictionaries will soon start to show Shitlevis photo next to the definition of the word 'slow'...

[Patel]

and end of the year for the exchange.

Why so late? Twins said that they only wait for Bitlicense and since the first was now approved...  

2-3 months isn't so late. If you think about how slow DFS has been, it seems reasonable.

Have the Winklevoss said they will launch Gemini as soon as they get the Bitlicense?

[gentlemand]

2 months isn't so late. If you think about how slow DFS has been, it seems reasonable.

Have the Winklevoss said they will launch Gemini as soon as they get the Bitlicense?

Don't think they said that explicitly. I was under the impression they were looking to get a banking charter like Itbit. Dunno if that's true but that would take quite some time too.

[Patel]

2 months isn't so late. If you think about how slow DFS has been, it seems reasonable.

Have the Winklevoss said they will launch Gemini as soon as they get the Bitlicense?

Don't think they said that explicitly. I was under the impression they were looking to get a banking charter like Itbit. Dunno if that's true but that would take quite some time too.

It took itBit just about 3 months from the time of their application to getting the charter. The Wink's filed for their charter late July. So they would probably get it sometime in November

[gotmilk_]

and end of the year for the exchange.

Why so late? Twins said that they only wait for Bitlicense and since the first was now approved...  

2-3 months isn't so late. If you think about how slow DFS has been, it seems reasonable.

Have the Winklevoss said they will launch Gemini as soon as they get the Bitlicense?

I think they said that all they need is Bitlicense.

[coinableS]

and end of the year for the exchange.

Why so late? Twins said that they only wait for Bitlicense and since the first was now approved... 

They were also saying expecting a Q1 launch for 2015. They'll be lucky to get in Q4. Really suprised by how long they are taking.

[randy8777]

and end of the year for the exchange.

Why so late? Twins said that they only wait for Bitlicense and since the first was now approved... 

They were also saying expecting a Q1 launch for 2015. They'll be lucky to get in Q4. Really suprised by how long they are taking.

i wouldn't be surprised if they at some point decide to cancel everything due to the issues they are facing. they keep delaying everything. they can't keep delaying as there will be better alternatives by that time.

[LFC_Bitcoin]

I thought the Gemini Exchange would be live by now, I understand there are a lot more obstacles to get the ETF approved but I have no idea why Gemini is taking so long to become a reality.

It's quite disappointing really, I was hoping it'd be trading now which would have given us a bit of a boost in the price.

[wakka622]

I hope it launches soon. Im ready to start seeing btc get the media coverage it needs.

[Dilla]

Probably stalling until closer to the halving. Good business strategy: launch Gemini around halving rush, Gemini thrives, more people poor into Gemini, bubble!!

[rjclarke2000]

and end of the year for the exchange.

Why so late? Twins said that they only wait for Bitlicense and since the first was now approved... 

They were also saying expecting a Q1 launch for 2015. They'll be lucky to get in Q4. Really suprised by how long they are taking.

i wouldn't be surprised if they at some point decide to cancel everything due to the issues they are facing. they keep delaying everything. they can't keep delaying as there will be better alternatives by that time.

A little part of me has had this on my mind for a while too.

[Patel]

What would be a realistic release date in your opinion? Personally I'd be surprised with 2015.

I think it could be done within a few days after Gemini is becoming a trust company - they had more than 2 years to prepare the ETF. Not sure if that's in 2015, but it could be.

There is no way the SEC is gonna let it pass using the last S-1A

There is a 90% chance they will submit another S-1A and remove exchanges like btc-e, mtgox, etc. They will replace all the foreign bitcoin companies and resources with things like Gemini, Coinbase Exchange, itBit and other regulated infastructure.

Then the SEC will review it again.

note: I am not a legal expert, not giving legal advice, and I am not dealing with this ETF in any way. I am just giving my opinions.

[gentlemand]

A little part of me has had this on my mind for a while too.

Doesn't have to be the first to succeed but they must be feeling a little peeved that things aren't unfurled yet. If I'd been them I would've put something more modest into action just to get things rolling. Something more meaningful and useful than the Winkdex obviously.