Winklevoss Bitcoin ETF Offering Expands to $100 Million

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New documents filed for the bitcoin exchange traded fund (ETF) sought by investors Cameron and Tyler Winklevoss reveal that the size of the offering has grown to $100m.

The years-long effort – delayed more than once by the US Securities and Exchange Commission (SEC) – is aimed at providing a means for investors to gain exposure to bitcoin without actually having to buy the digital currency.

The SEC is expected to make a decision on the Winklevoss Bitcoin ETF later this year, with its self-imposed deadline of 11th March inching closer. Speculation around the approval is such that at least one exchange has moved to offer a prediction market, letting traders bet on the possible outcome.

Documents submitted to the SEC on 8th February show that the planned offering has changed somewhat in scope.

For example, the size of the offering has increased, from $65m to $100m, as well as a boost in the number of shares being offered, from 1m shares to 10m shares. The filing goes on to indicate that the maximum offering price per share has been lowered, from $65 down to just $10.

Notably, the filing also features new language about the prospect of

Read more ... source: CoinDesk

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