# A proposal has been file with the SEC for a Bitcoin ETF.

**URL:** <https://boards.straightdope.com/t/a-proposal-has-been-file-with-the-sec-for-a-bitcoin-etf/662498>\
**Category:** Miscellaneous and Personal Stuff I Must Share\
**Created:** [July 3, 2013, 1:49am UTC](https://boards.straightdope.com/t/a-proposal-has-been-file-with-the-sec-for-a-bitcoin-etf/662498 "2013-07-03T01:49:18Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![davidm](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/davidm/32/225_2.png) [@davidm](https://boards.straightdope.com/u/davidm)\
**Post date:** [July 3, 2013, 1:49am UTC](https://boards.straightdope.com/t/a-proposal-has-been-file-with-the-sec-for-a-bitcoin-etf/662498/1 "2013-07-03T01:49:18Z")

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[http://dealbook.nytimes.com/2013/07/01/first-name-in-the-first-fund-for-bitcoins-winklevoss/?\_r=0](http://dealbook.nytimes.com/2013/07/01/first-name-in-the-first-fund-for-bitcoins-winklevoss/?_r=0)

> [@](#):
>
> **Winklevoss Twins Plan First Fund for Bitcoins**
> 
> Cameron and Tyler Winklevoss, the twins best known for their part in the history of Facebook, filed a proposal with securities regulators on Monday that would allow any investor to trade bitcoins, just as if they were stocks. The plan involves an exchange-traded fund, which usually tracks a basket of stocks or a commodity, but in this case would hold only bitcoins.  
> …  
> The proposal from the twins, who already have sizable bitcoin holdings, is an audacious one: the Winklevoss Bitcoin Trust could send digital money from the realm of computer programmers, Internet entrepreneurs and a small circle of professional investors like themselves into the hands of retail investors — virtually anyone with a brokerage account.

I know we’ve discussed this “currency” on here before so I thought that this might be of interest. I doubt that it will be approved. Bitcoins are apparently mostly used for money laundering and the purchasing of illegal goods; and for lame extortion attempts like this one: [So what's all this about Romney's tax returns being hacked? - Politics & Elections - Straight Dope Message Board](http://boards.straightdope.com/sdmb/showthread.php?t=664518)

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**Author:** ![Diceman](https://avatars.discourse-cdn.com/v4/letter/d/22d042/32.png) [@Diceman](https://boards.straightdope.com/u/Diceman)\
**Post date:** [July 3, 2013, 4:46pm UTC](https://boards.straightdope.com/t/a-proposal-has-been-file-with-the-sec-for-a-bitcoin-etf/662498/2 "2013-07-03T16:46:46Z")

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I’m having a hard time imagining the government approving what would basically be the official drug cartel/kiddie porn stock exchange.