Published on October 21st, 2016 | by bitcoin0
Winklevoss Brothers Speed Up Their SEC Approval
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.
Given this volatility, even with SEC approval, there’s no guarantee that investors will be reassured or willing to use the product.