Following yesterday’s landmark announcement by the NYDFS regarding the addition of ether – the digital token powering the Ethereum blockchain network – to the Gemini bitcoin exchange, the Winklevoss twins revealed today that they have been investing in Ethereum’s digital tokens.

In an interview with CoinDesk, Tyler Winklevoss explained that the brothers started investing in ether a few months ago, but declined to provide a specifics, saying that the amount was “material”.

According to the brothers, the Ethereum blockchain came to their attention in 2015, when various fintech news outlets began to report vigorously on the innovative digital currency. Additionally, many requests came into Gemini to add ether trading pairs, which further piqued the curiosity of the Winklevoss twins.

Cameron Winklevoss wrote on the Gemini blog:

“Over the past six months, ether increasingly became a credible candidate for inclusion on Gemini.”

Setting aside the hype, Tyler Winklevoss outlined that Ethereum’s smart contract functionalities and the platform’s unique programming language, were sufficient reasons to dive in. While the brothers see the enormous potential of the Ethereum network, they also believe that Ethereum is not a competitor to bitcoin, “We see them as taking different paths, not cannibalizing each other.” said Tyler.

Trading in ether is scheduled to start on Monday and traders are only allowed to deposit the digital currency for nowi. Cameron’s blog post also stated that Gemini will be offering two trading pairs:

“We will be offering ETH/BTC and ETH/USD trading pairs on two new order books.”

Image credit: 1

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.