Bitcoin Needs to Think Outside ETF Box
The hopes of Tyler and Cameron Winklevoss to list an exchange-traded fund based on bitcoin were dashed by the Securities and Exchange Commission. That suggests the digital currency's future may not be in the U.S., and probably shouldn't hinge on a fund that invests in nothing else.ONE AVENUE THAT'S STILL OPENPensionsThe U.S. regulator ended an almost four-year debate with the Winklevoss twins Friday, indicating it wasn't comfortable approving an ETF that would be based on a mostly unregulated asset and over which surveillance and enforcement may be difficult. While previous reservations from the SEC seemed surmountable, this one required bitcoin to be something else.
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https://www.bloomberg.com/gadfly/articles/2017-03-13/bitcoin-backers-must-evolve-after-winklevoss-reversal