SolidX files to launch bitcoin exchange-traded product

Reuters News
|
Posted: Jul 12, 2016 12:16 PM

(Reuters) - SolidX Partners Inc, a blockchain technology company, filed with the U.S. Securities and Exchange Commission to launch an exchange-traded product that tracks the price of bitcoins.

SolidX Bitcoin Trust will list on the New York Stock Exchange under the ticker symbol XBTC upon regulatory approval, SolidX Partners said on Tuesday.

SolidX is the second company to file for a bitcoin exchange-traded product with the U.S. regulators.

The Winklevoss Bitcoin Trust, owned by brothers Cameron and Tyler Winklevoss, filed an application for a bitcoin ETF three years ago.

Last month, the brothers filed to switch the listing of their proposed bitcoin ETF to BATS Global Markets from Nasdaq.

If approved by the SEC, the Winklevoss ETF would be the first bitcoin ETF issued by a U.S. entity.

(Reporting by Nikhil Subba in Bengaluru; Editing by Sriraj Kalluvila)