The Race for a Bitcoin ETF: The Winklevoss Brothers' Effort

On June 26th, 2018 the SEC received an application for a Bitcoin ETF license from the Chicago Board Options Exchange in partnership with Van Eyck Investment and SolidX. The SEC recently published the file and investors and crypto-enthusiasts now eagerly await their decision.

Together, Cboe and SolidX represent two of the three financial institutions that filed for a Bitcoin ETF with the SEC. SolidX's last attempt in 2017 was rejected by the SEC due to fears of an unregulated overseas market.

Together, the three companies offer a real chance of getting the first Bitcoin ETF approved.

Gemini, the exchange of the Winklevoss twins, is the third financial institution that applied for a Bitcoin ETF. In March 2017, the SEC denied their request citing concerns of "Fraudulent and manipulative acts," in the crypto market.

The race for world's first Bitcoin ETF continues.

"Bitcoin and gold have a lot of things in common, but in a lot of areas, I think, bitcoin is preferable to gold. It's very clear to see why people are talking about bitcoin as a digital gold, or gold 2.0.".

On July 1st, 2013, the day of the S-1 filing, Bitcoin was worth $97.51.

Mt. Gox, which at one point handled over 70% of the global bitcoin transactions, ultimately suffered a massive hack, catapulting cryptocurrencies into a multi-year bear market.

While time will only tell whether the Winklevoss twins will manage to launch the first Bitcoin ETF, it is almost certain they will continue to build and invest in the cryptocurrency space.

In February 2018, Cameron predicted that the bitcoin market could one day be worth $3-4 trillion.