Winklevoss Twins Launch Winkdex Bitcoin Index
Opinions expressed by Entrepreneur contributors are their own.
This article is part of the Spend Smart series. Read more stories
Cameron and Tyler Winklevoss just majorly upped their Bitcoin game. The venture capitalist twins, best known for their high-profile legal clash over Facebook, have officially launched the Winklevoss Index, or the Winkdex for short.
The Winkdex, similar to CoinDesk’s Bitcoin price index, is a “blended price index that is designed to reflect the true price of Bitcoins,” according to a press release issued by the Winklevii, as the former Olympic rowers are sometimes referred to.
The New York-based Internet entrepreneurs announced the inception of the Winkdex in a regulatory filing the pair made Wednesday to the Securities and Exchange Commission.
Related: Cameron Winklevoss: A ‘Sheriff’ for Bitcoin’s Wild West Is a Good Thing
The Winkdex, which, frankly, we think sounds a little too much like the household cleaner Windex, would be used to price the value of the cryptocurrency held by the Winklevoss Bitcoin Trust, an exchange-traded fund the brothers are hoping to gain SEC approval for. If the fund is sanctioned, it would be the first-ever publicly traded U.S. Bitcoin fund.
Here’s the scoop direct from the filing:
“Math-Based Asset Index, LLC (“Index Provider”) [the twins’ firm — ed.] developed, calculates and publishes Winkdex on a continuous basis using a patent-pending mathematical formula developed for such purpose. The formula provides a volume-weighted, exponential moving average market price by blending trading data from the largest Bitcoin Exchanges by volume on a list of Sponsor-approved Bitcoin Exchanges. Bitcoin Exchange criteria for inclusion as a Winkdex constituent include (i) trading denominated in US Dollar, (ii) availability of trading data, (iii) volume criteria and (iv) lack of recent trading halts. The Index Provider maintains a monitoring system that tests for these criteria on an ongoing basis.”
Related: Winklevoss Twins: Bitcoin Worth at Least 100 Times its Current Price
As of 11:52 a.m. ET today, the price of the volatile virtual currency was $583.54, according to none other than the Winkdex, which already has a pretty slick website.
Cameron and Tyler Winklevoss just majorly upped their Bitcoin game. The venture capitalist twins, best known for their high-profile legal clash over Facebook, have officially launched the Winklevoss Index, or the Winkdex for short.
The Winkdex, similar to CoinDesk’s Bitcoin price index, is a “blended price index that is designed to reflect the true price of Bitcoins,” according to a press release issued by the Winklevii, as the former Olympic rowers are sometimes referred to.
The New York-based Internet entrepreneurs announced the inception of the Winkdex in a regulatory filing the pair made Wednesday to the Securities and Exchange Commission.
The rest of this article is locked.
Join Entrepreneur+ today for access.
Subscribe Now
Already have an account? Sign In
