They are now likely to be lapped by Barry Silbert's SecondMarket.
The firm, whose Bitcoin Investment Trust (BIT) is already the largest
regulated private Bitcoin investment fund in the world, has begun
taking steps to open their own publicly traded, over-the-counter Bitcoin
ETF, with a projected launch date of Q4 2014.
Because the BIT already complies with FINRA statutes, it will be able
to file to open the exchange on a much more accelerated timeline than
the Winklevosses, Silbert told BI Thursday.
"The plan all along was to move the
[Bitcoin Investment Trust] into the public market in a similar way to
the Winklevosses," he said. "But we've learned the route they're taking
takes many years to get approved, and there's a high level of
uncertainty when it will get done. [SecondMarket's process] does not
require SEC approval."
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