The Winklevoss twins are doing their best to make cryptocurrency buying and selling go mainstream.
According to a report today (May 9) from CoinDesk.com, the brothers were awarded a patent for a system that executes transfers of exchange-traded products (ETPs). The price of ETPs derives from other investment instruments they are tied to, like cryptocurrencies.
The duo has also tried to bring a Bitcoin-tied ETF to the markets, but the Securities and Exchange Commission rejected their last bid in March 2017.
In other cryptocurrency news, the price of Bitcoin pushed back above $9,300 as crypto enthusiasts thrashed Warren Buffett over his comparison of the world’s largest coin to “rat poison.”
Mark Wright, a Bitcoin investor and well-known businessman in London, argued that Buffett has a history of failing to understand both technology and innovation.
Buffett notoriously passed on investing in both Amazon.com Inc. and Alphabet Inc. in the past.
Meanwhile, notable Bitcoin bull and billionaire Mike Novogratz announced plans to launch his own cryptocurrency index. The former hedge fund manager will team with Bloomberg to create the Bloomberg Galaxy Crypto Index.
The new index will track the aggregate returns of the largest cryptocurrencies by market capitalization.