Winklevosses Confront Real Challenge on ETP for Virtual Bitcoin
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Cameron and Tyler Winklevoss watched Facebook Inc.’s rapid rise even as they claimed Mark Zuckerberg stole their idea for the social-networking site. Their proposal for an investment tracking the virtual currency Bitcoin faces a protracted fight to win over regulators and market makers.
The twins, who attended Harvard University at the same time as Facebook founder Zuckerberg, this week filed with the U.S. Securities and Exchange Commission to create the Winklevoss Bitcoin Trust, a variation of an exchange-traded fund that would hold Bitcoins and issue shares on a secondary exchange.