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Title: SEC REJECTS PROSHARES, DIREXION AND GRANITIE SHARES BITCOIN ETF PROPOSALS Post by: abruchifid on August 22, 2018, 10:44:01 PM After much wait, SEC has given its verdict on the proposals submitted for its considerations by the aforementioned groups. Here is a quote on their :
"The Exchange has not met its burden under the Exchange Act and the Commission's Rules of Practice to demonstrate that its proposal is consistent with the requirements of the Exchange Act Section 6(b)(5), in particular the requirement that a national securities exchange's rules be designed to prevent fraudulent and manipulative acts and practices." In addition, the Exchange has offered no record evidence to demonstrate that bitcoin futures markets are "markets of significant size." Were you expecting something different after the Winklelov's brother rejection? Source: https://www.sec.gov/rules/sro/cboebzx/2018/34-83913.pdf |