Gemini Trust Co.,literary criticism sexuality eroticism the U.S.-based digital-currency exchange founded by entrepreneurs Cameron and Tyler Winklevoss, is introducing a daily bitcoin auction to facilitate price discovery and larger trades at lower costs.
The auctions, to be held at 4 p.m. New York time every day including holidays and weekends, at first will support just bitcoin-to-U.S. dollar trading, and will eventually expand to more currencies. Auction trades will be eligible for as much as a 0.15 percent rebate on trading fees, Gemini said.
By adding daily auctions starting Wednesday, Gemini is bringing to bitcoin a feature that’s long been available on exchanges such as the New York Stock Exchange, Nasdaq and Bats Global Markets for other asset classes.
It’s a step toward making the digital currency more attractive, and easier to use by institutional as well as retail investors, Gemini Chief Executive Officer Tyler Winklevoss said in an interview.
"We believe this is the first-ever end-of-day bitcoin exchange auction," Winklevoss said. "Auctions create greater price discovery and liquidity, resulting in a very meaningful final auction price. If you were building a securities exchange today, an auction would be a core feature."
Bitcoin trades 24 hours a day, but a buyer wishing to purchase a lot of bitcoins may be out of luck at 2 a.m., when there aren’t many sellers around. Gemini hopes to overcome that issue by designating the time when financial markets traditionally close for buyers and sellers to come together and trade. The feature will also help establish the daily bitcoin trading price.
The auctions are being introduced just as Winklevoss Bitcoin Trust -– a bitcoin exchange-traded fund -- is awaiting listing on Bats. The fund’s bitcoin price will be valued daily at 4 p.m. Eastern based on the spot price on Gemini, according to a recent filing. Tyler Winklevoss declined to comment on when the fund may be listed.
“We view the launch of an end-of-day auction as a significant step forward for Gemini and the bitcoin industry,” Bats CEO Chris Concannon said in an e-mailed statement.
Gemini has operated in the U.S. since last October, after being licensed by New York’s Department of Financial Services. In recent months, the exchange has been expanding into other countries, such as Canada. It does not provide its user or growth numbers.
Gemini is expanding its suite of services as the technology behind bitcoin finds uses in industries ranging from supply chain to finance, and more people around the world open bitcoin accounts. The price of bitcoin reached $607.31 on Tuesday, almost triple its value a year ago, according to CoinDesk Bitcoin Price Index.
Topics Bitcoin
2025 Oscar winners: See the full list
Clinton calls and concedes as Trump takes the stage
Beer, sushi and hope: Voters election nights are all planned out
Australia offers 'democracy sausages' to Americans in their hour of need
Best Samsung Frame deal: Free Music Frame with Frame Pro art TV purchase
Canadian immigration site crashes mid
Donald Trump gets booed on his way to vote
Calexit: Californians want to secede now that Trump won
Boeing's new VR simulator immerses astronauts in space training
Black market ceviche could mean jail for single mom
What is Vcore and How Does It Help with Overclocking?
CNN turned the Empire State Building into a giant television.
Hillary Clinton's devastating loss spells heartbreak for women everywhere
Couple married 37 years emphatically support different candidates on live TV
Best travel deal: Take 30% off Southwest flights
This feels like 2000...But worse because of social media
This British politician predicted Trump's victory all along
Clinton supporters are taking Election Day selfies at their new favorite street corner
Scientists find supercolony of penguins on the remote Danger Islands
This feels like 2000...But worse because of social media
ICE doxes thousands of immigrants seeking asylum on its websiteJake Paul and Tana Mongeau got engaged and no one is sure if it's realHow the queer community can embrace the asexual spectrumSamuel L. Jackson goes off after spotting mistake in 'SpiderJulia Weldon on new opportunities for nonApple Music Replay reminds you which songs you binged the most in 2022South Korea vs Portugal livestream: How to watch World Cup Group H liveGoogle Doodle celebrates the gaming legacy of engineer Jerry LawsonJapan zoo's furryThis trans teen wants to change the world through storytellingCory Booker's peeved reaction to Beto speaking Spanish at the debate is an instant memeCory Booker's peeved reaction to Beto speaking Spanish at the debate is an instant memeThe Oceanic+ app is here, turning Apple Watch Ultra into a diving computerCosta Rica vs Germany livestream: How to watch World Cup Group E liveTrump subreddit r/TheGoogle Doodle celebrates the gaming legacy of engineer Jerry LawsonDad plays saxophone for an audience of cows after learning to play on YouTubePortugal vs Uruguay livestream: How to watch FIFA World Cup Group H liveBrazil vs Switzerland livestream: How to watch FIFA World Cup Group G liveApple's iPhone 14 Pro and Pro Max are in very short supply right now How shops and restaurants are creatively cashing in on 'Pokémon Go' Qualcomm announces new chipset for Android smartwatches Chrissy Teigen couldn't resist the 'Arthur' jokes after John Legend won his Emmy Company sends Trump 6,000 bags of green tea to make him 'smarter' Fall TV Preview: Returning shows everyone should watch Facebook activates Safety Check for Nice after truck rams into parade Hurricane Florence is coming to the East Coast. Here's what to expect. Mastercard just changed its logo for the first time in 20 years Silicon Valley's most controversial billionaire is going to speak at the RNC The internet tells Trump his rumored VP choice sucks Apple's iPhone XS will be historic, but not for the reason you think Tesla's electric semi truck spotted again on its secret road trip 'Shadow of the Tomb Raider' a fiery finish for Croft's origin: Review Slack is down, time to slack In a world of e Trump and Cruz make out on giant billboard in GOP convention city In the good ol' days, we forced politicians to do the Macarena Unesco just added 9 new World Heritage Sites to your travel bucket list Sarah Jessica Parker agrees 'Sex and the City' was 'tone deaf' on diversity Impressive looking 'Seinfeld' video game is pure fantasy, for now
1.8115s , 8286.4375 kb
Copyright © 2025 Powered by 【literary criticism sexuality eroticism】,Inspiration Information Network