ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Saturday Aug 18th 2018
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

SEC Rejects Winklevoss Bitcoin ETF

By

Matthew

De Silva

WriterETHNews.com

On July 26, 2018, the US Securities and Exchange Commission published a 92-page document, which explains why the agency disapproved a proposed rule change seeking to list and trade shares of the Winklevoss Bitcoin Trust.

Bitcoin-linked exchange-traded funds (ETFs) were hit with another setback on Thursday, as the US Securities and Exchange Commission (SEC) announced that it once again disapproved of a proposed rule change that could have allowed the listing and trading of shares in the Winklevoss Bitcoin Trust. The agency previously denied the bid in March 2017.

CBOE Holdings Inc's Bats exchange, which sought the approval, may choose to appeal the SEC's decision in federal court, according to ReutersOver the last several months, bitcoin ETFs have served as a rallying point for many cryptocurrency enthusiasts, as they seek to legitimize the digital currency and open up the asset class to new investors (both on Main Street and Wall Street).

Today, one SEC commissioner, Hester Peirce, dissented from the majority, arguing that the "proposed rule change satisfies the statutory standard" and worrying that the SEC's stance "undermines investor protection by precluding greater institutionalization of the bitcoin market."

Commissioner Peirce also expressed concern that with the disapproval order the SEC "signals an aversion to innovation that may convince entrepreneurs that they should take their ingenuity to other sectors of our economy, or to foreign markets, where their talents will be welcomed with more enthusiasm."

Earlier this week, the SEC postponed a decision on NYSE Arca's proposed rule change to list Direxion's bitcoin-tied ETFs.

Matthew De Silva

Matthew has a passion for law and technology. He graduated from Georgetown University, where he studied international economics and music. Matthew enjoys biking and listening to tech podcasts. He lives in Los Angeles.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Gemini, Winklevoss twins or other Ethereum business and finance news.