U.S. crypto entrepreneurs Tyler and Cameron Winklevoss have won a patent for a system to provide crypto-based exchange-traded products (ETPs), according to a patent filing 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 Bitcoin (BTC) and other cryptocurrencies, including Ethereum (ETH), Ripple (XRP), and Litecoin (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.
In May, the Winklevoss brothers were granted a similar patent for a system that allows Winklevoss IP to settle ETPs using cryptocurrencies.
In April, the Winklevoss’ cryptocurrency exchange Gemini, partnered with leading stock exchange Nasdaq to monitor markets using NASDAQ’s SMARTS Market Surveillance Technology.
Cryptocurrencies remained downbeat on Friday, December 5, with sentiment deteriorating across leading assets. Meanwhile, the latest ETF flow stats confirm this weakness, with Bitcoin and Ethereum exchange-traded products struggling as new products attracted fresh funds.
Ripple (XRP) seems to have lost steam after recording gains over the past two days. The second-largest altcoin by market cap is trading at around $2. 17, with the bulls pushing to regain control of the trend.
Bitcoin traded just above $93,416 on Thursday as expectations mounted that the US Federal Reserve would cut interest rates next week. During the morning session, the cryptocurrency dipped to $92,612 before climbing to an intraday high of $94,002, reflecting renewed momentum after several weeks of turbulence.
Crypto markets staged a major turnaround on Tuesday as traders reacted to rising expectations of US interest-rate cuts and a surge in spot Bitcoin ETF activity following Vanguard’s decision to end its ban on Bitcoin ETF purchases.
The cryptocurrency market kicked off December with a downbeat mood as negative sentiments prevailed. At the same time, yesterday’s inflows data confirmed a divided landscape among leading spot exchange-traded funds (ETFs), which have become the primary indicator of institutional appetite in digital currencies.
The cryptocurrency market experienced a dip on Monday but instantly bounced back. Bitcoin briefly dropped to the $84k level but is now trading above $86k per coin. XRP, Ripple’s native coin, also dipped on Monday, but the $1.
Coinbase stock (NASDAQ: COIN) plummeted 5% in pre-market trading on Monday, as the crypto sector entered December under assault. Bitcoin shed more than 5% to trade below $86,600, while Ethereum collapsed 5.
