That's when investors Cameron and Tyler Winklevoss, then best known for their controversial role in creating Facebook, first proposed the Winklevoss Bitcoin Trust, an exchange-traded vehicle that would open up Bitcoin to institutional investors.
This rejection set the stage for a series of subsequent ETF rejections that have occurred ever since.
At the same time, Barry Silbert's SecondMarket took a different path, launching a publicly traded trust that holds Bitcoin, but whose shares are traded on over-the-counter (OTC) markets.
Over the past few years, amid turmoil at its parent company, discounts have tu
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