THELOGICALINDIAN - With abundant of the banking apple bedeviled on the anticipation of a bitcoin exchangetraded armamentarium the US Securities and Exchange Commission SEC has reportedly denied the angle from Gemini founders Cameron and Tyler Winklevoss
The US Securities and Barter Commission (SEC) has reportedly alone the first-ever cryptocurrency ETF angle from Cameron and Tyler Winklevoss — the acclaimed entrepreneurs abaft cryptocurrency barter Gemini.
The Winklevoss Bitcoin Trust was already denied by the SEC in 2017. However, CNBC now reports that the twins’ afresh submitted aphorism change angle has additionally been alone by the independent bureau of the United States federal government — appearance yet addition accident in the Winklevoss’ adventure for an ETF.
The vote was reportedly 3-1.
It charcoal to be apparent how this accommodation will affect added proposals for a Bitcoin-backed ETC.
According to CNBC, the SEC has cited broker aegis as the acumen abaft its abnegation of the Winklevoss twins’ ETF, claiming that bitcoin is accountable to a apropos bulk of artifice and abetment conducted abundantly from able adopted markets.
The account additionally follows the SEC’s dabbling of an Arca Inc. filing from January 2018 gluttonous approval to account and barter shares of bristles Direxion bitcoin ETFs. Earlier this week, news of the postponement came in a U.S. Government Publishing Office (GPO) post, which read:
All eyes now abide durably bedeviled on the SEC’s accessible accommodation apropos the CBOE bitcoin ETF angle — which one acknowledged able believes will be delayed into March 2019.
Update 5:39 pm: The amount of Bitcoin has reacted to the news, falling added 2 percent over the aftermost hour afterwards captivation absorbing assets fabricated over the accomplished week. It now appears as admitting the concise upside abeyant is capped for the bazaar leader, admitting it charcoal to be apparent whether or not the bears will durably balance ascendancy over the abutting few days.
What do you anticipate about the Winklevoss’ denied proposal? Do you anticipate we will see a bitcoin ETF this year? Let us apperceive in the comments below!
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