[2017-04-25] US regulators to review decision blocking Bitcoin ETF’s listing

[tyz]

US regulators to review decision blocking Bitcoin ETF’s listing

NEW YORK: The US Securities and Exchange Commission plans to review its decision last month to block the listing of the first US exchange-traded fund tracking the digital currency bitcoin, a regulatory filing showed on Tuesday.

A more-than-three-year effort by investors Cameron and Tyler Winklevoss to convince the SEC to allow it to bring the Bitcoin ETF to market stalled when the agency’s staff ruled against them in March.
Read more at http://www.thestar.com.my/business/business-news/2017/04/26/us-regulators-to-review-decision-blocking-bitcoins-listing/#TUhC3006h3YyggFz.99

http://www.thestar.com.my/business/business-news/2017/04/26/us-regulators-to-review-decision-blocking-bitcoins-listing/

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[Qartada]

Yeah, just like they postponed the decision for months and months.  Even if they want to leave their options open, they're still not actually going to approve it for a long while.  They're too conservative.

[richardsNY]

I value the willingness to allow a review on their decision that to me was sounding pretty final. I however very much doubt that it will have any positive outcome for those being in favor of an ETF. I am 99% certain that they won't suddenly approve it after their rejection not that long ago. It will harm their status as it would mean that their words of disapproval have no value at all. I say forget it (for now).

[Baofeng]

Does this move means another positive news for bitcoin ecosystem? Any impact on the market price?

I believed that SEC decision regarding the ETF is final. I don't know why are they making another review. They just granted a review nothing more. They will not suddenly make a U-turn and change the decision they handled last March.

[cr1776]

It will probably come to nothing and is likely a CYA formality but anything is possible. It would be beneficial to many people to have an ETF.

[coolcoinz]

Like other posters here I'm skeptical. They might review it because of complaints or maybe a procedural error, but the outcome will most likely be the same.
The government doesn't like to be wrong and doesn't like to be this quick with changing the ruling. It would imply they were careless and acted on impulse at first. The only thing that might push it through this fast would be some serious greasing

[1Referee]

Does this move means another positive news for bitcoin ecosystem? Any impact on the market price?

I believed that SEC decision regarding the ETF is final. I don't know why are they making another review. They just granted a review nothing more. They will not suddenly make a U-turn and change the decision they handled last March.

It is final and will have zero impact on the price.


I see this as a completely nonsense move as it is nothing more than a waste of time for all parties involved. In order to see the chances of getting the Winklevoss ETF approved increase, they need to properly insure their entire fund holdings. It's something that the SolidX ETF did somewhat take care of as their fund holdings were insured up to an amount of $125 million, while their ETF offering value was just a poor $1 million. Major negative aspect to their insurance was that they couldn't properly explain how they planned to insure everything. If you don't know what you're talking about, how do you expect the SEC to take you seriously? Especially with such an insignificant amount (in comparison to the ETF from the twins) of money. They must have thought that it was an early April fools joke.

[Perle]

Does this move means another positive news for bitcoin ecosystem? Any impact on the market price?

I believed that SEC decision regarding the ETF is final. I don't know why are they making another review. They just granted a review nothing more. They will not suddenly make a U-turn and change the decision they handled last March.

It is final and will have zero impact on the price.


I see this as a completely nonsense move as it is nothing more than a waste of time for all parties involved. In order to see the chances of getting the Winklevoss ETF approved increase, they need to properly insure their entire fund holdings. It's something that the SolidX ETF did somewhat take care of as their fund holdings were insured up to an amount of $125 million, while their ETF offering value was just a poor $1 million. Major negative aspect to their insurance was that they couldn't properly explain how they planned to insure everything. If you don't know what you're talking about, how do you expect the SEC to take you seriously? Especially with such an insignificant amount (in comparison to the ETF from the twins) of money. They must have thought that it was an early April fools joke.

Maybe there were agreements about which no one knows. Big whales did not agree and everything went wrong as planned. I think the brothers were denied, but maybe in the future the decision will be changed