[2016-10-13] SEC Wants More Time to Decide on Winklevoss Bitcoin Fund

[Karartma1]

It appears the US Securities and Exchanges Commission (SEC) needs more time to examine the Winklevoss brothers’ Bitcoin exchange-traded fund (ETF). A filing released today announced further proceedings to approve or disapprove a necessary rule change on the Bats BZX Exchange.

Commodity Rule Change Required
Bats BSX Exchange LogoThe exchange’s Rule 14.11(e)(4), regarding commodity-based trust shares, needs to be amended before a cryptocurrency-based ETF may list.

The Winklevoss’ ETF, which they first announced three years ago, has faced repeated regulatory hurdles. They initially spent two years trying to list it on the Nasdaq, before turning to Bats in mid-2016.

After the initial application in June, the SEC set a 45-day period for comments. It received six — most infamously one from Bitcoin critic Jorge Stolfi in July. The Brazilian computer science academic referred to Bitcoin using terms like “ponzi” and “penny stock”.

http://bitcoinist.net/sec-decide-winklevoss-bitcoin-fund/

 

[richardsNY]

It's funny how certain "high level" people still think Bitcoin is a ponzi scheme. How ignorant can someone be to not see how functional and helpful Bitcoin is? These people only point their attention on the negative aspects of their own economy, and transfer that over to Bitcoin. Either way, I am quite sure that this isn't the last wall to climb for the Winklevoss twins.

[Winner]

The approval of their ETF depends on the individuals at the Government.

They might say that Bitcoin is used in ponzi's and scams -yet those specific individuals don't like it when someone says the USD is involved with the same things.

Kind of weird, though not really because they just want the poor to stay poor within their made up economic views.