Bitcoin ETF Officially Rejected by the SEC

In an unexpected turn of events the SEC has denied Bitcoin’s ETF proposal filed by the Winklevoss twins. In the released statement, the agency claimed that Bitcoin’s markets weren’t regulated enough and that exchange wouldn’t be able to enter the appropriate “surveillance-sharing” agreements because of the cryptocurrency’s nature. Bitcoin’s market reacted sharply to the statement as the price dropped over 20% in a matter of minutes. The Winklevoss twins have been waiting on the SEC’s approval of their ETF for nearly 3 years. The proposal has been delayed multiple times and each time a few changes were required. It seems … Continue reading Bitcoin ETF Officially Rejected by the SEC