Today the Winklevoss COIN ETF filed a new free writing prospectus with the Securities and Exchange Commission (SEC) which first appeared on the fund’s official website at www.coin-etf.com on February 24, 2017. Is this a good sign for a rule change before March 11th which would allow the bitcoin-based investment to be listed?
The new free writing prospectus can be seen here.
A free writing prospectus is a supplement to the formal prospectus required by the SEC. It may contain additional information about the business offering the security or additional information about the offering itself.
Details of the proposed rule changes which would allow for listing can be found here.
The SEC has designated Saturday, March 11, as the date by which it would either approve or disapprove the Winklevoss Bitcoin Trust ETF for listing on BATS, which would be the first in the United States to exclusively track the leading digital currency.
A decision would represent the end of a multiyear campaign to bring a bitcoin ETF to market. Tyler and Cameron Winklevoss, who run Winklevoss Capital, first announced plans for the ETF in 2013; the brothers also run both WinkDex, a bitcoin price index, and Gemini, a bitcoin custodian and trading exchange regulated by the BitLicense from the New York Department of Financial Services.