Winklevoss bros manage to obtain crypto ETF patent

Thursday, June 21, 2018 1:19 PM UTC

Before we begin with this write-up, let’s just refresh memories of 2017 and then proceed, when we saw the skyrocketed pace of bitcoin price surge, cryptocurrency industry was under the meticulous scanner of the US SEC. That was when the U.S. Securities and Exchange Commission (SEC) rejected the first U.S. ETF tracking bitcoin in the recent past after a three-year review process, but a month later the regulator said it would revisit the ruling. The SEC also said this week it has a number of active investigations into firms that have claimed to be in the digital currency business. Despite such hurdles, interest in creating cryptocurrency-based ETFs is strong.

Tyler and Cameron Winklevoss, the founders of Gemini Crypto exchange, have had much awaited the creation of a BTC exchange-traded fund (ETFs). The United States Patent and Trademark Office has now awarded a patent to a firm called Winklevoss IP LLP for exchange-traded-products (ETP) on 19th June. The patent document detailed it as a method “for providing an exchange-traded-product holding digital math-based assets.”

As BTC price is almost about to break through with the Winklevoss ETF that has won the patent coupled with the other constructive news, but on the contrary, the recent Korean hacking news, the ban on trading cryptocurrencies in several countries and other destructive news are still posing the bearish risks, thereby, one can foresee huge room for smart hedging so that one can grow their account way bigger than they expect. One can deploy option straddle strategy on hedging grounds that involves buying ATM call and ATM put options simultaneously. You can observe, such OTC type options likely to fetch handsome yields regardless of swings in underlying BTCUSD.

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