Tuesday, July 15, 2014

'COIN' to be Ticker Symbol for Bitcoin ETF

Earlier this month Silicon Valley tycoons, The Winklevoss brothers declared the ticker symbol for their new bitcoin ETF (exchange traded fund). The bitcoin mutual fund will go public under the mark 'COIN'.

The virtual money caught the twins' eyes more than a year back as the worth of bitcoin soared. They went public with plans to buy the prominent web-based currency early July 2013. Since then, more details have appeared about just what the venture tactic was developing into. Recently, the brothers, disclosed that they were taking the Winklevoss Bitcoin trust (their Bitcoin ETF) to NASDAQ. They consider the value of Bitcoin can increase by a factor of ten with a valid exposure on the exchange. On July 15, 1 Bitcoin cost $621.45, an incredible investment opportunity if what the twins say is right. This number has been gradually growing since the statement of the fund.

'COIN' is nonetheless held up in federal control and there is zero clear or official declared date for the IPO, despite the fact that many professionals are supposing that (based on government approval) the fund may be trading before the end of the year.

It is an amazing period for the virtual industry, but possibly what is most remarkable about bitcoin specifically is the way in which it is growing into the real world.

Read more about this story at the New York Times and at coindesk.

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