One Of Bitcoin's Earliest Developers Told Us The Winklevoss ETF Is 'Risky Business'

REUTERS/Darren Whiteside

Cameron and Tyler Winklevoss

Martti Malmi is generally credited as the guy who turned Bitcoin from an abstract computer program and making it fit for public consumption.

Cameron and Tyler Winklevoss are generally credited with co-creating a forerunner to Facebook. 

So we thought it appropriate to get the former's opinion of the latter duo's new foray as the creator of the Bitcoin ETF.

In case you haven't heard, the brothers have created a Bitcoin ETF that will track the underlying value of the cryptocurrency.

In an email, Malmi gave us his thoughts on the twins' fund:

The ETF would make bitcoin investment easier for the big money and could improve bitcoin's liquidity and price stability in the long run. Increase of bitcoin's market cap would be obviously beneficial to the Winklevii, who reportedly own 1% of all the bitcoins in existence.

The risk analysis in the ETF's registration statement presents good understanding of bitcoin's technological and economical aspects. I'd say it's a risky business, but worth a try. At least it shows some good entrepreneurial spirit.

Team Winklevoss!

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