Bitcoin ETFs To Be Reviewed Again By SEC

Bitcoin ETF
Second chance, second chance. The SEC (Securities & Exchange Comission) is going to review their decision last month to deny the first bitcoin ETF an exchange listing and approval for trading. This is the ETF formed by the Winklevoss brothers (twins actually) and has been ‘in the works’ for the past three years or more. Good luck “W Brothers” and thanks SEC.

(Bill Taylor, CEO)

“The U.S. Securities and Exchange Commission plans to review its decision last month to block the listing of the first U.S. exchange-traded fund tracking the digital currency bitcoin, a regulatory filing showed on Tuesday.

A more-than-three-year effort by investors Cameron and Tyler Winklevoss to convince the SEC to allow it to bring the Bitcoin ETF to market stalled when the agency’s staff ruled against them in March…A fund holding the currency could bring more professional investors to the asset and push its price higher.

Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments…

CBOE Holdings Inc’s (CBOE.O) Bats exchange had applied to list the ETF and appealed to the commission to review its staff’s decision…”

Source: Reuters