Entrepreneurs Cameron and Tyler Winklevoss (Cameron and Tyler Winklevoss) in recent years, often became heroes news cryptocurrency sphere. Mainly because of the recent failure of the Commission on securities and exchange Commission (SEC) to approve their application for registration bitcoin exchange-traded Fund (ETF). However, the twins continue to work tirelessly to develop its cryptocurrency exchanges Gemini and hope for the best.
The refusal of the SEC is not the only blow to the Winklevoss brothers over the last year. In addition, they experienced a drop in the volume of trading on the Gemini and lower prices for their stocks of cryptocurrency. However, the media tend to assess the decision of the SEC as the worst of the events, because the failure affects to the entire kriptonyte. Approval, by contrast, would Winklevosses and exchange a huge profit.
In an interview with Bloomberg, the brothers shared their thoughts about why wall street is in no hurry to enter into the cryptocurrency market.
“Wall street refers to the cryptocurrency seriously, but most of the companies based there still is not present on the cryptocurrency market, which remains predominantly a retail market. Things will change, but it will take some time,” commented the Winklevoss.
The lack of clear regulations and major investments are in part the reason that institutional money doesn’t come into the cryptocurrency market. The approval of regulators bitcoin ETF will help organizations to securely and easily invest in digital assets.
However, without criticism of the Winklevoss Fund is also not done. Many players of kriptonyte familiar with the idea of brothers, said that it was not the best bitcoin ETF of those that applied for official approval. This is due to several factors, including the fact that the Fund relied on the prices at which the cryptocurrency is trading at Gemini and not at the average market.
Most likely, the hopes of the crypto community for approval for a bitcoin ETF will justify the project CBOE, which supported the company VanEck and SolidX. Many believe that this ETF will become the perfect investment vehicle for bitcoin. If the Fund is approved, the market may start to rally. In the case that the regulators will say no, the market may usher in a new phase of decline. We will remind that the decision on the issue CBOE SEC postponed to the end of September.
Going back to the Winklevoss brothers it should be noted that the exchange Gemini, despite the decline in trading volume and investor interest continues to improve their performance. Only for the 2018 marketplace doubled the staff and now there employs 150 people. Among them are the real experts in the field of cryptocurrency, including a former top Manager of the new York stock exchange Robert Cornish (Robert Cornish).
The brothers the Winklevoss received this year has five patents in the name Winklevoss IP. The last was issued in may, and describes a system that performs transactions for exchange traded products (ETP) using the cryptocurrency.