Nasdaq’s David LaValle: ‘Winklevoss Bitcoin Trust Could Be Significant for ETF Industry’

In the new interview, David LaValle discussed the Winklevoss Bitcoin Trust and its role in the exchange-traded fund (ETF) market.

Photo: bfishadow/Flickr

Photo: bfishadow/Flickr

David LaValle, Nasdaq Vice President of Transaction Services and Head of ETF business, said in his new interview that the Winklevoss Bitcoin Trust is a major development in the growing exchange-traded fund (ETF) market. Besides, a lot of questions about the role of the fund were discussed during the interview.

The ETF was proposed by brothers Cameron and Tyler Winklevoss in July last year and it is still subject for receiving approval from the Securities and Exchange Commission (SEC). According to the recent filings with SEC, the fund would operate under the name ‘COIN’.

During his conversation with, LaValle talked about the influence of bitcoin ETF. In general, he sees the Winklevoss new trust as quite positive: “I think it’s significant that we’re on the precipice of a new investable asset that’s coming to market or becoming available to investors first in the form of an ETF. In some ways, it gives the ETF credibility, and it accentuates many of the benefits of the ETF as an investment wrapper. To that extent, it’s important for the ETF industry.”

LaValle said that bitcoin is dynamic currency, what is likely to attract more investors. He also added that ETF might be used both as investing and trading instrument, but it is still unknown as the fund has not yet won regulatory approval.

Overall, an interview was rather optimistic and LaValle encouraged investors by saying that the Winklevoss Bitcoin Trust is a significant innovation in the ETF industry.

When asked about the inclusion of bitcoin ETF into Nasdaq, he said it is a win for traders, investors and to the exchange itself. “We certainly view it as a win. The reality is that we believe Nasdaq to be the home of innovation across all of our business channels, ETF listings included. To the extent that the industry and the investing community are viewing this as an innovation in investment product, we certainly feel we’re at the forefront of that,” he said.

Endorsing the Winklevoss Bitcoin Trust, LaValle ended his conversation with the words: “Time will tell how big of an innovation this is, but you’re right: The ETP industry is continuing to evolve by bringing more efficient products to market that are targeting investment opportunities that already exist, and we’re also seeing innovation in the new types of products that are coming to market in terms of what you’re able to access through an ETF”.

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