The well-known Winklevoss twins almost certainly think they can get approval for their Bitcoin ETF application. Yesterday it was announced that another ETF application, from CBOE, was withdrawn due to the shutdown in America.
The two, who are behind the cryptocurrency exchange Gemini, explained their plan to get approval for their Bitcoin ETF:
We must respond to the SEC’s call for more market surveillance on the crypto market. We have started doing this in collaboration with the Virtual Commodity Association … and (by) integrating NASDAQ’s smartest technology into our marketplace. These are the steps in the right direction to put regulators at ease and ultimately to approve an ETF-like product.
In short, the brothers hope to generate more trust by using technology from more traditional fairs. AXX previously integrated technology from the London Stock Exchange, with which it won more interest from traditional investors.
When the Winklevoss twins start their ETF application, it is still unknown at this moment. After the withdrawal of the VanEck ETF application, only Bitwise still has a Bitcoin ETF application pending with the SEC.