SHIB, BONE Prices Rally: Factors Fueling Memecoin Market Recovery Revealed 
A new wave of wearable devices will collect a mountain on information on us 
Robotic Baristas Serve Coffee and Crypto at Dubai's Token2049 Event 
Gaza war: Israel using AI to identify human targets raising fears that innocents are being caught in the net 
Michael Saylor Nets $370 Million from MicroStrategy Shares Amid Crypto Surge 
Why doesn’t my digital music feel like ‘mine’? Three ways digital possessions reduce our sense of ownership 
More than three years ago, Winklevoss Capital Management LLC, launched the Winklevoss Investment Trust, the first proposed bitcoin ETF. Consequently, as a matter of regulatory framework, the trust had filed to trade on the BATS exchange rather than on the New York Stock Exchange (NYSE) in last June of 2016.
Should the Securities and Exchange Commission (SEC) approve the Winklevoss bitcoin ETFs on March 11, a huge speculative rush on bitcoin is expected.
Once approved, an easily accessed ETF would provide a chance for average investors to participate in the bitcoin market, bringing droves of new investors.
Christopher Burniske, blockchain products lead at ARK Investment Management, which invests in an ETF-like fund that trades over the counter, said he is concerned that a bitcoin ETF could bring irrational exuberance if bitcoin’s price significantly appreciates.
SEC approval will allow the Winklevoss Bitcoin ETF to trade on the BATS Global Market exchange.
Two other bitcoin ETFs, the Bitcoin Investment Trust and the SolidX Bitcoin Trust, have also filed with the SEC to be listed on the NYSE and would also give ordinary investors more access to bitcoin investing. Most bitcoin analysts perceive a bitcoin ETF is inevitable.
If the Winklevoss fund is not approved, the Bitcoin Investment Trust will be the closest thing to a bitcoin ETF. The Bitcoin Investment Trust uses a private trust structure managed by Grayscale Investments LLC, which is part of Digital Currency Group. Only accredited investors can purchase its shares on the primary private market.
The shares are priced in line with bitcoin. Investors keep holdings locked for a year before they can sell on a secondary market, OTCQX, an OTC market. The shares currently sell at a 15% premium compared to bitcoin’s underlying value.
Huge demand and possibly a lack of intricacy may cause the OTC traders end up paying heavier costs, Bogart said. Burniske, meanwhile, is reading a history of financial bubbles to prepare for the March 11 decision.
