A Winklevoss ETF Reboot? Analysts See Uphill Battle Ahead
A decision by a major exchange to fight the SEC rejection of a proposed bitcoin ETF has little chance of success, according to analysts polled by CoinDesk.
Bats BZX Exchange, one of the largest US equities markets, recently filed a petition asking US regulators to reconsider a ruling on the bitcoin fund proposed by investors Cameron and Tyler Winklevoss. Should it be approved, the Winklevoss Bitcoin Trust would be the first-ever bitcoin-based ETF, and would list on the Bats BZX Exchange.
However, SEC decisions are rarely overturned, according to Jeff Bishop, ETF expert and co-founder of investor message board platform RagingBull.com.
Bishop said:
"The only reason it would be overturned would be if new facts were produced to overcome [the SEC's] initial objections."Full Read Here:
http://www.coindesk.com/winklevoss-bitcoin-etf-relaunch-analysts-chance/
