Bitcoin player Winklevos brothers are now determined to play a bigger game.

Bitcoin "big player" the Winklevos brothers are now determined to play a bigger game.

This Monday, the Winklevos brothers (Tyler Winklevoss and Cameron Winklevoss) submitted to the Securities and Futures Commission (SEC) the Winkleiwosbutt Currency Trust Fund (Winklevoss Bitcoin trusts) to register the stock listing documents ( S-1), if the fund can be successfully listed, this will be the first to track the value of digital assets such as Bitcoin (Digital math-based Assets) Exchange-traded funds (ETFs), investors can buy the fund to invest in bitcoin.

The above registration documents show that the Winkleiwosbutt Trust fund plans to raise 1 million copies of the proposed maximum price of $20.9, the planned maximum amount of up to 20 million U.S. dollars, the fund is designed to enable investors through a cost-effective and convenient way to invest in bitcoin, and minimize their credit risk.

The Fund's registration document also states that on the first day of public trading, each (about $20) fund represents 0.2 bitcoin, and currently on the Mt.Gox trading website, 1 Bitcoin can be exchanged for about $90. The fund share is mainly used to reflect the weighted average value of the Bitcoin (i.e. the weighted average value of the exchange rate with each sovereign currency).

A senior fan of bitcoin said in an interview with the first financial daily: "Compared to direct investment in Bitcoin, it can save a lot of costs by subscribing to the Fund, such as foreign exchange transaction fees, currency custody fees, and so on, while the currency appreciates." ”

However, for regulatory reasons, it is still unclear whether the fund will be released smoothly. At present, in addition to the US Treasury's Financial Crime Enforcement Network (FinCEN), major regulators, including the US Commodity Futures Trading Commission (CFTC), the IRS and the SEC, have not provided any guidance on the regulation of bitcoin and other digital assets, or have issued any official opinion. Although the fund's sponsors believe that the important characteristics of Bitcoin and other digital assets are actually the same as those of commodities, it is possible to use such assets as a reference or as an equivalent discussion, but it is not clear whether regulators hold the same view.

Bitcoin is a virtual currency created using Open-source peer-to-peer technology software, originally presented in 2009 by Ben Cong (Satoshi Nakamoto, or alias). The Bitcoin currency system is independent, and its operation does not depend on the support or credit guarantee of the central bank, the government or the large enterprises. Use a distributed database of all Peer-to-peer network nodes to record currency transactions and use cryptography to ensure the safety of all aspects of money circulation.

The way to get Bitcoin is mainly two kinds. Users can buy in a Bitcoin trading market such as Mt.Gox, or they can get bitcoin by solving the math problem in a data block of transaction information, a move similar to the real-world process of looking for gold, which is called a mining (mining).

Ben Cong, the father of Bitcoin, has many believers, and the Winklevos brothers are among the two most famous. They claim to have a 1% of the amount of Bitcoin they have dug up. The brothers created a social networking site called CONNECTU and recruited Mark Zuckerberg in. After Zuckerberg left to create Facebook, the brothers sued him and accused Zuckerberg of stealing their ideas. The case ended with the Winklevos brothers getting 20 million dollars in cash compensation and Facebook shares.

In fact, before the Winklevos brothers planned to issue the Bitcoin trading fund, the country's famous Bitcoin investor, Li Yu, had launched a closed-end bitcoin investment fund totaling 20 million yuan. Senior enthusiasts said that the domestic currency as the media investment environment has been gradually formed, Bitcoin futures and the stock market is also in the completion and improvement.