And while that process remains in flux, a company tied to the brothers has won another U.S. patent related to the creation of exchange-traded products tied to cryptocurrencies and digital assets.
The patent was awarded to a firm called Winklevoss IP LLP, and both Winklevoss brothers are included as the inventors along with Evan Louis Greebel, Kathleen Hill Moriarty and Gregory Elias Xethalis.
The patent, awarded on June 19, details a method “for providing an exchange-traded product holding digital math-based assets” as well as the issuance of shares tied to that ETP. It adds to the body of intellectual property the Winklevosses have sought to obtain, though it’s not entirely clear when or how the concepts will be applied to real-world products.
An ETP, such as an exchange-traded fund (ETFs), is a type of security, the price of which is derived from other investment instruments – in this case, cryptocurrencies.
As CoinDesk previously reported, the Winklevoss brothers won a patent last month for a system that settles transactions for ETPs tied to cryptocurrencies…