Gemini exchange founders, the Winklevoss twins are not giving up on Bitcoin ETF

  • “Bitcoin [BTC] is most likely the winner in the long term,” Cameron during the Reddit AMA.
  • Winklevoss are committed to making ab BTC ETF a reality sooner or later.

The Winklevoss twins’ proposal for a Bitcoin ETF was rejected last year by the Securities and Exchange Commission (SEC) in July 2017. However, the founders of the New York State Department of Financial Services (NYSDFS) Gemini told the Reddit community that they still believe in a Bitcoin exchange-traded fund.

One of the twins, Cameron Winklevoss said during a recent Ask Me Anything (AMA) conducted on Reddit that “Bitcoin [BTC] is most likely the winner in the long term.” Moreover, Cameron said that “Bitcoin is certainly the OG crypto! It's hard to defeat network effects — so in terms of 'hard money' (i.e., store of value) Bitcoin is most likely the winner in the long term.”

While discussing the possibility of a Bitcoin ETF, the Winklevoss brothers said that they “are committed as ever to making an ETF a reality!” Cameron’s brother Tyler said in regards to Bitcoin is a better asset than gold:

“We believe bitcoin is better at being gold than gold. If we're right, then over time the market cap of Bitcoin will surpass the ~7trillion [sic] dollar market cap of gold.”

The brothers had applied for another Bitcoin ETF that was also rejected back in March 2017. The SEC has rejected several other ETF proposals while recalling some for further review. It is unclear the timeline for a BTC ETF approval. However, there are some industries players like Cameron and Tyler who are committed to making it a reality sooner or later.

Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin and major altcoins extend the decline on Monday

BTC/USD is currently trading at $9,822 (+1.6% on a day-to-day basis). The coin has recovered from the intraday low of $9,714, however, the upside momentum is still slow. 

More Cryptocurrencies News

LTC/USD freefall to $60 seems imminent

Litecoin recently climbed several barriers including $70 and $80. Although the focus was on $100, the high formed at $84 marked the end of the rally. The price has retreated to $72, besides the bulls are fighting to keep LTC above $70. 

More Litecoin News

NEO/USD regains ground above $14.00 as Binance launches NEO/USDT futures

NEO/USD topped at $16.72 on February 14 and hit the recent low of $13.41 on Sunday amid global sell-off on the cryptocurrency market.

More NEO News

XRP/USD erased the gains of the previous rally

Ripple's XRP has been collapsing for three days in a row. The massive sell-off caused by a global correction on the cryptocurrency market wiped out all the gains of the previous week and pushed XRP/USD below $0.2700 on Sunday. 

More Ripple News


Bitcoin Weekly Forecast: BTC bulls brace for jump to $11,000

Bitcoin (BTC) has been growing for three weeks in a row. The first cryptocurrency hit $10,504 on Thursday - the highest level of 2020.

Read the weekly forecast