Winklevoss Brothers Win Patent to Give Crypto-Based Exchange-Traded Products

In May, the Winklevoss brothers were allowed a comparable patent for a system that allows Winklevoss IP to settle ETPs with cryptocurrencies.

ETPs are a form of security where the value is based from other investment instruments, like commodities, currenciesand discuss prices or rates of interest. In this case, the ETP&rsquo cost is based from cryptocurrencies.

Before in March 2017the U.S. Securities Exchange Commission (SEC) rejected the Winklevoss twins’ program to create a Bitcoin-based exchange-traded fund (ETF), citing that”the principles of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest”
Filed on Nov. 27, 2017 from Winklevoss IP, the patent comprises both brothers as the historians, in Addition to Evan Louis Greebel, Kathleen Hill Moriarty and Gregory Elias Xethalis.

The newest patent signifies systems, systems and program products for using ETPs that maintain “electronic resources ” & “other products and/or services linked to ETPs holding electronic resources,” such as Bitcoin (BTC) and other cryptocurrencies, such as Ethereum (ETH), Ripple (XRP), and Litecoin (LTC).
In April, the Winklevoss’ cryptocurrency exchange Gemini, partnered with leading stock market Nasdaq to monitor markets with NASDAQ’s SMARTS Market Surveillance Technology.

U.S. crypto entrepreneurs Tyler and Cameron Winklevoss have obtained a patent for a system to provide crypto-based exchange-traded products (ETPs), as shown by a patent filing released by the U.S. Patent and Trademarks Office (USPTO) June 19.