[2017-03-29]SEC Denies SolidX Bitcoin ETF Proposal

[joshy23]

The Securities and Exchange Commission (SEC) has denied a bid to list a bitcoin exchange-traded fund on the New York Stock Exchange.


The decision, published today, presents the second bitcoin-tied ETF turned down by the SEC since the start of the month. On 10th March, the agency rejected an effort from investors Cameron and Tyler Winklevoss to list a bitcoin ETF on the Bats BZX Exchange – though last week Bats moved to fight that rebuffing, seeking an effective rehearing of the SEC’s decision.

In its notice, the SEC cited justifications similar to those used in the Winklevoss ETF decision, namely a lack of market surveillance and a dearth of regulation in some jurisdictions.


http://www.coindesk.com/sec-denies-solidx-bitcoin-etf-proposal/

[1714030979]

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[cr1776]

Not surprised.  If they're ignorant about one, they'll be ignorant about two. Or three.

[Bit_Happy]

...namely a lack of market surveillance and a dearth of regulation in some jurisdictions.

Honey badger doesn't want regulation in any jurisdictions.

[richardsNY]

No big deal. Most people didn't expect anything good to come from this so short after the Winklevoss ETF rejection. We don't need any ETF's to move forward with Bitcoin. So far every bit of growth that we realized was done without any help. It can be seen as a fantastic achievement if you consider what we have been through in the last few years.

[1Referee]

Not surprised.  If they're ignorant about one, they'll be ignorant about two. Or three.

Basically that. If they don't change from stand point, then I don't know when they ever will approve whatever Bitcoin ETF. It's not that much will change in the coming years in regards to the reasons of why both ETF's were rejected. It didn't even change a single bit knowing that SX has an insurance policy of up to $125 million. I am quite sure that the reason for both rejections is that the government doesn't want Bitcoin to step up a notch in ranking. Allowing institutional investors to enter Bitcoin through ETF's would make Bitcoin grow in such a rapid pace, that they prever to keep things as they are right now as that will buy them enough time to come up with something else to hold back Bitcoin's growth.

[lionheart78]

This is expected reason why this does not cause so much noise as the winklevoss etf, since the first one was rejected, it would be funny if Solidx Bitcoin ETF proposal is accepted.  Probably the next one will be rejected too.  And funny that the price recover even with this rejection.  It seems Bitcoin community does not care that much for this Sec approval things.  And obvious is obvious, the community does not like regulation which the SEC is looking before it will approve the proposal.

[veleten]

no surprise at all,they quoted the reason of ETF denial as inability to control bitcoin,hence there is no chance they are
changing their mind any time soon,maybe if there is a "signal" from above
then this totally independent /sarcasm
comission would change its decision,better luck next time,Winklewoss brothers