Despite the recent rejection of their Bitcoin ETF proposal from the Securities and Exchange Commission (SEC), Tyler and Cameron Winklevoss, founders of the Gemini cryptocurrency exchange, stated in their most recent announcement that they would be focusing on adding more cryptocurrencies to the exchange to grow the retail business.
Winklevoss Brothers Announce Working on New Listings
In an official announcement made on Twitter on August 13, Gemini exchange shared news on the Winklevoss brothers’ latest decision to focus on retail business.
The post stated that although Gemini exchange is offering services to institutional investors, it will be focusing on the retail business, which means that the exchange will expand its list of tradable cryptocurrencies.
In coverage from Bloomberg, the founding brothers of Gemini announced that despite the fact that their proposal on the Bitcoin-based exchange-traded fund (ETF) was rejected, they will continue to grow the business.
Gemini exchange is a licensed digital exchange with a growing number of employees, which has operated since 2015.
Gemini Exchange to Place Focus on Individual Investors
According to Tyler Winklevoss, “Wall Street is taking cryptocurrencies seriously” but the majority of institutional investors from Wall Street are keeping away from investing until regulations are more clear surrounding cryptocurrencies. This is their main reason for currently focusing on the retail expansion.
The proposed Bitcoin-based ETF would have opened the doors for institutional investors as presented by Cameron Winklevoss back at the end of 2017.
