SEC receives application for Bitcoin trading fund, plans to raise $20 million

The Winklevoss Bitcoin Trust, a Bitcoin exchange-traded fund founded by American twin brothers Tyler Winklevoss and Cameron Winklevoss, filed an application with the U.S. Securities and Exchange Commission (SEC) on Monday, planning to raise $20 million in funds.
The Winklevoss brothers had previously accused Facebook founder Mark Zuckerberg of plagiarizing their idea for creating a social networking site and ultimately received $65 million in cash and stock. The Winklevoss Bitcoin Trust's report submitted to the U.S. Securities and Exchange Commission shows that the fund will use the funds raised to invest in Bitcoin, with each share equivalent to a small portion of Bitcoin.
The Winklevoss Bitcoin Trust said in its prospectus that the shares would be offered to “investors seeking a good value, convenient way to invest in bitcoin while minimizing their credit risk.”
Bitcoin is a network virtual currency. The biggest difference from other virtual currencies is that its total number is very limited and extremely scarce. The currency system will have no more than 10.5 million in the first four years, and the total number will be permanently limited to 21 million thereafter. The difference between Bitcoin and other currencies is that Bitcoin does not rely on a specific central issuing agency, but uses a distributed database throughout the P2P network nodes to record currency transactions, and uses cryptographic design to ensure the security of each link in the currency circulation.
Since the beginning of this year, the value of Bitcoin has skyrocketed, and then plummeted. In January this year, the value of Bitcoin was $13. In April this year, the value of Bitcoin hit a record high of $266. Last weekend, the value of Bitcoin was about $100. My personal WeChat account is huxiu302. Welcome to hook up. Please indicate your work background (such as entrepreneur, marketer) when hooking up. Click here to set the entire site to large font. This setting is retained in the browser