In an interview David LaValle, vice president of transaction services for Nasdaq OMX and head of ETF business, says that Winklevoss, the first-of-a-kind ETF is nothing short of yet another major innovation in the quickly growing ETF market. The interview has come when a lot of questions about the viability of, and the role of the fund were being discussed.
He gave honest answers on the Winklevoss twins’ Winklevoss Bitcoin Trust ETF (COIN) and its role in ETF market. The fund has not yet received positive nod from the regulatory body SEC. However, according to some observers Bitcoin Trust from Winklevoss brothers has certainly sparked a conversation about the extent exposure should be allowed.
According to Mr LaValle the Bitcoin ETF will be listed on the NASDAQ soon could be a win-win for investors, traders, the issuer and the exchange itself. Coming from someone who not only oversees the exchange-traded product platform at Nasdaq, but also faces off daily with issuers, liquidity providers and trading firms, etc. his statement is being trusted by investors.
In his interview he came up several strong statements and encouraged the investors; for instance, he said that the Winklevoss Bitcoin Trust a significant development for the exchange-traded fund (ETF) industry. The ETF which was first proposed by noted Bitcoin investors Cameron and Tyler Winklevoss in July 2013 is expected to give new momentum to investment.
Investors’ Interest Will be secured
Though the Winklevoss Bitcoin Trust has not yet received affirmation from regulatory bodies like the Securities and Exchange Commission (SEC), it is expected to trade under the name ‘COIN’. He said that he thinks it’s significant that new investable assets that are coming to the market or becoming available to investors first in the form of an ETF.
Mr LaValle believes that it gives the ETF credibility as well as accentuates many of the benefits of the ETF as an investment wrapper and according to him to that extent, it’s important for the ETF industry. He also elaborated the issues like the nature of ETF investment and how Bitcoin may fit within the Bitcoin industry.
He assured investors and said that the ETF, if listed, will present investors with a potentially game-changing option. According to him, from the product generation standpoint, the Bitcoin ETF is certainly a step in an interesting direction and that it represents a new avenue for investors.
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