Many others, however, have racked up losses after buying bitcoins during a rapid, speculative rise to US$260 per coin in April before falling as low as $56. A single bitcoin sold for around $90 on Tuesday, according to the largest exchange, Mt. Gox in Japan.
The Winklevoss twins told The New York Times in April that they held as many as 1 percent of all of the bitcoins in circulation. There are about 11.3 million bitcoins in circulation, putting their holdings conservatively at $9 million today.
According to their plans, the trust would offer "baskets" of shares, of which each share is comprised of one-fifth of a bitcoin. The baskets would be redeemed in blocks of 50,000 shares based on an average bitcoin market price calculated from exchanges.
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