Published on October 21st, 2016 | by bitcoin0
The Winklevoss brothers are speeding up. SEC approval for their Bitcoin fund, says. Business Insider.
Tech entrepreneurs Cameron and Tyler Winklevoss have appointed State Street as the transfer agent for their bitcoin-based exchange-traded fund (ETF), the Winklevoss Bitcoin Fund, according to their latest regulatory filing on Tuesday, the Wall Street Journal reports.
The brothers also appointed San Francisco-based Burr Pilger Mayer to act as auditor for the fund.
The Winklevoss brothers likely brought these major players on board to increase the likelihood of SEC approval for their ETF.
The two businessmen likely want SEC approval because they think this will attract mainstream investors to their fund.
The approval process for the Winklevoss fund has already dragged on for three years, according to the WSJ, and the SEC recently put approval on hold once again.