[2017-03-11] HT: US regulators reject Bitcoin ETF, digital currency plunges

[polynesia]

US regulators reject Bitcoin ETF, digital currency plunges

http://www.hindustantimes.com/business-news/us-regulators-reject-bitcoin-etf-digital-currency-plunges/story-pal19etW6VoEW9DvCIeLCP.html

The U.S. Securities and Exchange Commission on Friday denied a request to list what would have been the first U.S. exchange-traded fund built to track bitcoin, the digital currency.

Investors Cameron and Tyler Winklevoss have been trying for more than three years to convince the SEC to let it bring the Bitcoin ETF to market. CBOE Holdings Inc’s (CBOE.O) Bats exchange had applied to list the ETF.

The digital currency’s price plunged, falling as much as 18 percent in trading immediately after the decision before rebounding slightly. It last traded down 7.8 percent to $1,098.

Bitcoin had scaled to a record of nearly $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset.

[polynesia]

Covered by other publications as well.

http://economictimes.indiatimes.com/markets/stocks/news/us-regulators-reject-bitcoin-etf-digital-currency-plunges/articleshow/57616439.cms
http://www.thehindubusinessline.com/news/world/us-regulators-reject-bitcoin-etf-digital-currency-plunges/article9581790.ece