Breaking: SEC reviewing Bitcoin ETF rejection
Bitcoin ETF rejection under review?
According to reports out within the last hour, the SEC (Securities and Exchange Commission) plans on reviewing it's decision to reject the Winklevoss ETF from just over 1 month ago.
The release can be seen here:
https://www.cryptocoinsnews.com/breaking-sec-will-review-decision-winklevoss-bitcoin-etf-rejection/
The SEC originally decided to rule against the Winklevoss ETF proposal citing a lack of market surveillance and regulation. Specifically, the SEC rejected a rule change that would have allowed the ETF to be included on the BATS BZX exchange.
Once the original rejection was obtained, BATS applied for a review of the decision from the SEC. As of this morning it is looking like that review has been granted.
It is interesting that the SEC is reviewing the decision considering they just declined the approval of another Bitcoin ETF no more than 2 weeks ago. That makes 2 Bitcoin ETF rejections in the last month alone.
Even more interesting is that it appears an Ethereum ETF proposal is now also being mulled over by the SEC. It can be seen here:
http://www.coindesk.com/sec-now-weighing-ethereum-etf-proposal/
So, now we have a Bitcoin ETF rejection review in the works as well as an Ethereum ETF proposal in the works...
It doesn't seem like the day is far off when we will see one of these cryptocurrenices trading via an ETF on a major US Stock Exchange.
Perhaps maybe even Steem one day?! ;)
Bitcoin and Ethereum are both up near their all time highs on the news.
Sources:
http://www.coindesk.com/sec-orders-review-winklevoss-bitcoin-etf-rejection/
Image Sources:
http://www.reuters.com/article/us-bitcoin-etf-idUSKBN17R27J?il=0
Follow me: @jrcornel
I also have the strong feeling that ETFs are just around the corner as the public's pressure is building as the acceptance of digital currencies are rising sharply. Thanks for the update on this matter, I keep an eye on this one as well. Namaste :)
Yep, my thoughts exactly. These first couple will likely get rejected but they will find ways to work around the problems. An etf is coming...
You always follow bitcoin sales, i really like your way.
Also want to like you, want to get to know bitcoin.
Thanks @jrcornel
Thanks! Bitcoin is the big dog in crypto right now so it makes sense to follow it. It probably won't be forever though as it's technology is inferior to many of the newer coins...
Yes, you are right.
Thanks @jrcornel
after reviewing SEC will reject Bitcoin ETF again
Haha yes, they probably will. However, a bitcoin or crypto etf is coming... it's likely only a matter of time.
Nothing will happen yet, let it be as it is for the next years , we need to make some money ! But BTC need a reason to get pumped right ?? :)
Wow, what an awesome post!🌸
Thank you!
The truth is that I don't handle the subject (cryptocurrency). I had heard the rejection of the SEC, and it seems good news to review the proposal.
I ask you a question, I have btc. Do I sell or maintain them? Sorry for asking you but this subject has me half lost. And you just made a post on the subject. Thank you
That depends, did you buy the btc for a long term investment or a quick trade?
Short term, but if I really should save them. I'll listen to you and keep the btc.
Haha well unfortunately I don't have any sort of crystal ball so I have no way of knowing where the price will go in the future for sure. It seems to be on a pretty impressive bull run right now though, so it's tough to say when it might end. My advice is to sell when your profit goal has been achieved. Wish I had a more concrete answer for you, but really that is the best you can do. Sell when you have a profit or just leave it in there for a long time and hope Bitcoin hits massive numbers (which it could, or it could deflate as other cryptos gain some traction)
I thought Jcornel the illusionist was going to save me, haha.
Not my friend, thank you very much for the advice and I know it is totally unpredictable. I'll listen to you and change them when I reach my goal. And if you hear that an Argentine committed suicide because he change the btc to $1290 and 10 minutes later the btc were valued $1400,
you will know that it was me, haha.
Really thank you very much! I really appreciate your advice!
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Thank you! Glad you enjoyed it :)
There's no way the SEC will approve. Most regulators are several years behind in terms of Fintech (and innovation in general). Private sector leads, public sector follows. It'll be while before anything happens here. It'll be huge though if it does
Yea probably not, but where there is money involved there will be a way. A cryptocurrency etf is only a matter of time in my opinion...
Watch out for Xem Also.
Kindly follow back
I've only been in the Crypto space for a month and in that time there is SO much change/development going on! It's brilliant!
Yep, things move fast don't they?!