Winklevoss IP, another company of Cameron and Tyler Winklevoss , the founders of Gemini’s cryptographic money exchange, has benn awarded a patent system that would allow ETPs (custodial investment products) to hold cryptocurrencies.
In the news, Winklevoss IP has confirmed that the system for transferring products such as Bitcoin, Ether, Ripple, Dogecoin and BBQCoin to ETPs has been approved. The American Patent and Trademark Institute has confirmed these developments with a written patent disclosure.
ETPs, including ETFs can be used and valued for other types of investment that can be linked to them.
Of course, the Winklevoss brothers have a patent application in December, and the investment unit that the ETPs are connected to and interacted with cryptocurrencies.
The Winklevoss brothers, one of the interesting duets of the crypto money community, are working to continue growing in the industry. Previously, applicants for crypto money-related exchange mutual funds had encountered such problems, which were rejected by the United States Securities and Exchange Commission (SEC) .
In March 2017, the SEC rejected the application and indicated that the Winklevoss brothers would like to open up their Bitcoin-linked ETFs in the Bats BZX exchange. At the time, news reports showed the uncertainties in the legal regulations is the reason for the rejection of the SEC.
The SEC has not fully lit up a green light on ETFs , which are crypto money-related, almost 15 months after the Winklevoss brothers refused. At the beginning of the year many of the company’s objections to the amendment were rejected by the institution.
The Winklevoss brothers have also patented a Blockchain-based cloud computing system . The brothers were aiming to increase the security level of the Gemini crypto money exchange on this count.