It seems that the popular Winklevoss twins have plans to present a new Bitcoin exchange-traded fund (ETF). The brothers are the founders of the crypto exchange Gemini and crypto proponents. They’ve talked about their plans to end concerns related to the Securities and Exchange Commission (SEC) regarding Bitcoin ETFs.
One of the things that make the SEC worried is related to market manipulations. At the moment, the Gemini exchange is working with NASDAQ’s services to find and detect manipulation in their exchange.
The Winklevoss brothers have also started an advertising campaign in New York City with the intention to attract new investors to their platform. There are subways, taxis and other billboards full of information about Gemini and virtual currencies.
During a conversation with Laura Shin, the twins explained that as they are located in the city, they’ve decided to launch the advertising campaign there. Additionally, they mentioned that they are targetting NYC because it is one of the financial capitals of the world and it's also the home of one of the strictest regulators in the world, the New York DFS.
Nevertheless, the campaign is not focused on regulators, but instead, they want to target customers. In general, one of the main issues that newcomers face is how to engage in the cryptocurrency world in a safe and compliant manner. Gemini wants to let people know that there are regulated exchanges and custodians such as Gemini that allow users to purchase and sell digital assets in an easy way.
The twins went on talking about Bitcoin and how it was considered in the past. There are several individuals that think about Bitcoin as something anonymous that was used back when the Silk Road was still active. There are still individuals that are sure that Bitcoin is really anonymous.
This is why they think that the best thing to do is to educate people on that matter and start a dialogue with customers. Distributed ledger technology (DLT) is going to play an important role in improving companies’ efficiency and processes. There are many ways in which firms from all over the world are already working with blockchain technology.