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Winklevoss Brothers Patent Exchange Traded Products for Cryptocurrency

As the outlook for key investment firms initiates to change, the demand for cryptocurrency investments based on derivative has witnessed a drastic growth. Driving further to Wall Street, Gemini founders Cameron and Tyler Winklevoss secured a patent for the cryptocurrency ETP (Exchange Traded Product).

In 2013, the Winklevoss twins were well-known for their $11 Million investment into Bitcoin and have since been deeply involved in the world of cryptocurrency trading, later establishing cryptocurrency exchange Gemini in 2015.

The consent of the patent application enables Winklevoss IP, a company owned by the Winklevoss brothers, to process exchange-traded products (ETPs) holding cryptocurrencies on national securities exchanges.

An ETP is a kind of security that is rated based on the derived value of other investment factors such as stocks, commodities, or cryptocurrencies.

In 2017, the SEC rejected the application of Winklevoss for a Bitcoin-based Exchange Traded Fund, which is a well-known type of ETP. And by the time, high indecision was present in surrounding digital asset regulations, and disbelief in surrounding related to cryptocurrencies was on a high note.
Explaining Bitcoin ETF reason for rejection, the SEC stated two requirements that Winklevoss’ application failed to meet up:

“First, the exchange should enclose surveillance-sharing agreements with noteworthy markets for trading the essential derivatives on that commodity. And second, those markets should be highly regulated.”

More specifically, NYSE’s parent company and Goldman Sachs and have freshly announced their plans to start digital assets trading desks, which is a sign of a fundamental shift in insight in terms of cryptocurrency.

The Winklevoss twins have secured five patents in the current year alone, with the latest related to security of cryptocurrency transactions enhancement on the Gemini exchange.