U.S. crypto entrepreneurs have won a patent for a system to provide crypto-based exchange-traded products (ETPs), according to a published by the U.S. Patent and Trademarks Office (USPTO) June 19.
The new patent represents systems, methods and program products for using ETPs that hold “digital assets” and “other products and/or services related to ETPs holding digital assets,” such as (BTC) and other , including (ETH), (XRP), and (LTC).
Filed on Nov. 27, 2017 by Winklevoss IP, the patent includes both brothers as the inventors, as well as Evan Louis Greebel, Kathleen Hill Moriarty and Gregory Elias Xethalis.
are a type of security where the value is derived from other investment instruments, such as commodities, currencies, share prices or interest rates. In this case, the ETP’s price is derived from cryptocurrencies.
In May, the Winklevoss brothers were a similar patent for a system that allows Winklevoss IP to settle ETPs using cryptocurrencies.
Previously in March 2017, the (SEC) the Winklevoss twins’ application to create a bitcoin-based exchange-traded fund (ETF), citing that "the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest."
In April, the Winklevoss’ cryptocurrency exchange , with leading stock exchange to monitor markets using NASDAQ’s SMARTS Market Surveillance Technology.
Published at Thu, 21 Jun 2018 19:27:00 +0000
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