Bitcoin proponents Cameron Winklevoss and Tyler Winklevoss said Wednesday that they would launch a new index to price the volatile virtual currency.
The new financial index takes its name from the Winklevoss brothers, famous for their legal battle with the Facebook founder, Mark Zuckerberg. The Winkdex was released publicly on Wednesday and provides a regularly updated figure for the price of Bitcoin, the virtual currency that has risen in popularity over the last year.
Tyler and Cameron Winklevoss announced the creation of the Winkdex in a regulatory filing they made on Wednesday to the Securities and Exchange Commission in connection with the Bitcoin exchange-traded fund they first applied to create last summer.
The new filing shows that the Winklevoss Bitcoin Trust is moving closer to regulatory approval despite skepticism in some investor circles. The brothers are now hoping to start the fund later this year, making it the first Bitcoin E.T.F.
“We’ve been very encouraged with how responsive and deferential the S.E.C. has been to the application,” Cameron Winklevoss said.
Read more about the Winkdex at The Wall Street Journal.