Although some of the shine on bitcoin has worn off, investors continue to be interested in it. The Winklevoss twins in particular said this week in a regulatory filing that they’re still planning on creating their exchange-traded fund based on bitcoin—and that they’re planning to list it on the NASDAQ.

Bitcoins

Winklevoss Bitcoin Trust moves forward

The New York Times reports that the Securities and Exchange Commission warned investors just this week about the dangers of investing in digital currencies like bitcoin. Regulators said the crypto-currency created new issues for those who invest in it. They warned of the potential of “frauds and high-risk investment opportunities” in connection with investing in bitcoin.

More than one bitcoin exchange has folded, with the most prominent one being Japan-based exchange Mt. Gox, which filed for bankruptcy protection earlier this year. Since then, regulators have been trying to figure out the best way to keep tabs on bitcoin.

Winklevoss bitcoin fund could become a reality

Cameron and Tyler Winklevoss became famous for clashing with Facebook Inc (NASDAQ:FB) founder Mark Zuckerberg over the idea for the social network. They caused more than a few eyebrows to raise when they filed their initial S-1 document with the SEC last year. Wedbush Securities analyst Gil Luria told The New York Times that regulators may allow them to create the ETF, especially since they have allowed the process to get so far along.

Their proposal for the ETF is that the fund would purchase one bitcoin for every five shares of the fund. Math-Based Asset Services, which the twins own, will store the ETF’s holdings. They haven’t decided yet how much of a management fee to charge.

Twins pour cash into bitcoin companies

The Winklevoss twins said they want to create the bitcoin fund because it will enable investors who have any amount of money to get in on the digital currency. The value has soared in recent years, as technology buffs and investors alike see potential in the technology—potential which goes beyond being simply a currency. Their proposed fund is likened to the SPDR Gold Trust (ETF) (NYSEARCA:GLD), an exchange-traded fund focused on gold.

The twins have dumped quite a bit of money into bitcoin-related companies, according to The New York Times. The newspaper reports that they have invested in BitInstant, an exchange where the crypto-currency can be traded. At one time, they also owned over $64 million worth of bitcoin. They even started their own index to track the currency’s value. Perhaps unsurprisingly, it’s called the Winkdex. Of course their ETF will use the Winkdex in connection with their ETF after it is created.