Owned by brothers Cameron and Tyler Winklevoss Winklevoss IP, the company received a patent for the settlement of exchange traded products (ETPs) tied to the exchange rate of the cryptocurrency. On Tuesday announced the Bureau of patents and trademarks USA (USPTO).
According Justia Patents, this patent was the fifth issued by Winklevoss IP this year. Last month the company received a patent for a system for improving security of transactions in digital format.
The current patent application filed with the twins in December 2017, covers methods, program products, and system, which can perform transactions for ETP using cryptocurrencies such as BTC, ETH, Ripple, Dogecoin, BBQCoin and other coins.
It should be noted that ETP are the type of securities, the prices of which are determined by investment instruments to which they are attached, in the case of the Winklevoss brothers — cryptocurrencies.
Recall that a year ago, the Commission on securities and exchange Commission (SEC) rejected the request of the brothers Winklevoss to launch a regulated bitcoin exchange-traded Fund (ETF) is one of the tools that is included in the ETP.
At the time this refusal provoked a sharp increase in volatility of bitcoin, and many sources suggested that the demand for ETFs has come too early, and the authorities have not yet adopted appropriate measures to control such innovations.
In December last year, the launch of futures trade on bitcoin has led to renewed attempts to create an ETF tied to the cryptocurrency. The Commission on securities and stock exchanges of the USA were filed three patent applications, each of which were also rejected.
Although the SEC has not yet given “green light” for any related bitcoin ETF, but over the year there have been many changes, and now steps into cryptocurrency trading do many representatives of traditional Finance. So a few days ago came the news that the new York stock exchange (NYSE) is considering the opening of trading BTC.
Shortly before that, NASDAQ also announced its intention in the future to open a special platform for trading cryptocurrencies and financial giant Goldman Sachs announced the beginning of sales of futures for bitcoin “in the coming weeks.”