Why the Winklevoss bros should be on Bitcoin’s Mt. Rushmore
2025-07-01 15:59:30
Main Idea
The Winklevoss twins played a pivotal role in Bitcoin's early adoption by proposing the first Bitcoin ETF in 2013, laying groundwork for future crypto financial products despite initial regulatory setbacks.
Key Points
1. The Winklevoss twins filed for the Winklevoss Bitcoin Trust in 2013, the first proposed Bitcoin ETF, aiming to broaden Bitcoin's influence with a $20 million investment.
2. Their proposal included holding 1% of Bitcoin's circulating supply, with shares initially valued at 0.20 BTC each.
3. The SEC rejected the proposal in 2017, citing the need for regulated markets and surveillance-sharing agreements, which temporarily impacted Bitcoin's price.
4. Bitcoin-backed ETFs only became available in the US in 2024, nearly 11 years after the Winklevoss proposal.
5. Gemini, founded by the Winklevoss twins, serves as custodian for VanEck's Bitcoin ETF (HODL) and has filed for an IPO, continuing their influence in the crypto space.
Description
Long before BlackRock’s ETF, there was the Winklevoss Bitcoin Trust
Latest News
- Brooklyn teen deploys Solana node for his high school2025-07-04 05:46:28
- SEC greenlights Grayscale crypto index fund conversion to ETF2025-07-04 05:45:50
- Why the Winklevoss bros should be on Bitcoin’s Mt. Rushmore2025-07-04 05:45:16
- SEC clears way for first Solana staking ETF2025-07-04 05:41:27
- Kadena makes its play for Ethereum’s devs2025-07-04 05:40:34