NEW YORK Feb 25 SecondMarket Holdings, a New
York firm that facilitates investments in privately held
companies, is planning a U.S.-based regulated exchange for
bitcoin investors, the company's founder and chief executive,
Barry Silbert, said on Tuesday.
Silbert said the new exchange will be modeled after the New
York Stock Exchange, and would be launched possibly in the
summer of 2014. He hopes to recruit at least 10 members by the
end of March and is currently in discussions with bitcoin
companies, as well as at least half a dozen global banks.
"The whole effort will be regulated and all the participants
in the exchange will be regulated as well," Silbert said.
Involving the big banks is crucial in advancing the bitcoin
market, Silbert said, which he said would, "probably provide the
level of comfort that institutional investors are looking for."
The exchange will be part of a new company that SecondMarket
will spin off to oversee all the firm's bitcoin activities. A
subsidiary of SecondMarket sponsors the Bitcoin Investment
Trust, which has net assets of $47 million and a trading desk.
The plan to launch a new exchange comes as Mt. Gox, once the
world's biggest bitcoin exchange, abruptly stopped trading on
Tuesday with no explanation.