Winklevoss Twins Turn Focus to Retail Investors After Bitcoin ETF Rejection
Tyler and Cameron Winklevoss, the founders of crypto exchange Gemini, aren’t overly fazed by the recent SEC decision to deny their second attempt at listing a Bitcoin-based ETF.
In a recent interview with Bloomberg, the Winklevoss Twins opened up about the fallout following the ETF rejection that kickstarted a sell-off in the larger crypto market, which recently accelerated after the SEC postponed its decision on whether to allow the listing of the Cboe VanEck/SolidX ETF.
Tyler Winklevoss, who serves as chief executive of Gemini, shared that while waiting for Wall Street and the SEC to get on board with crypto, the company will focus on expanding its product offering focused on retail investors.
Wall Street is taking cryptocurrencies seriously, however, the vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail driven market. This will change over time, but it will take time.
Retail investors can currently purchase Bitcoin, Ethereum (ETH), and Zcash (ZEC) through Gemini, with each digital asset fully approved for trading and custody services via the York State Department of Financial Services (NYSDFS). Gemini is the first licensed Zcash exchange in the world.
While the Winklevoss Twins wait for full-scale Wall Street adoption, cryptocurrency hedge funds and venture capital funds are currently launching at a record pace. The majority of the new funds have been launched in the United States, with only one-third being officially registered with the SEC.
Photo: TechCrunch / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.