NASDAQ executive says Bitcoin evolving, optimistic about Winklevoss ETF

David LaValle, vice president of transaction services for Nasdaq OMX and head of ETF business, spoke to ETF.com about Bitcoin and

David LaValle, vice president of transaction services for Nasdaq OMX and head of ETF business, spoke to ETF.com about Bitcoin and the proposed Winklevoss Bitcoin Trust exchange traded fund (ETF).

The ETF, which aims to offer investors exposure to Bitcoin in a regulated exchange traded instrument, was registered with the Securities and Exchange Commission (SEC) earlier this year. It is still awaiting approval.

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LaValle is upbeat both about the ETF, which would be traded on his exchange, and Bitcoin. He explained:

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“I think bitcoin is evolving. It’s quite dynamic. We first saw consumers and merchants begin to be open to using it for transacting. But now, as we move toward bringing it in the form of an investment tool, I think it certainly broadens the exposure of potential users. But the Winklevoss Bitcoin Trust ETF could be used really as an investment tool or a trading tool.”

He added that the Bitcoin instrument would enjoy enhanced credibility by virtue of its “ETF wrapper”, and conversely ETFs would benefit from the expansion.

Comparisons were drawn to the earliest days of gold ETFs, which allowed investors to gain exposure to the precious metal with the advantages of investing through a stock exchange.

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