The U.S. Securities and Exchange Commission (SEC) intends to review its decision to reject the Winklevoss Bitcoin Exchange-Traded Fund (ETF) listed on the Bats BZX exchange, in March. Less than two weeks after the decision was handed down, Bats petitioned for a review – a move that the agency has now greenlit. The SEC said two days ago that it had approved the review, opening the door to further comment between now and 15th May. In its 25-page petition for a review, Bats Exchange states that the decision by the delegated authority “is clearly erroneous”. The exchange claims that the standard applied in their disapproval decision “is inconsistent with prior approval orders” and is not even required by the Securities Exchange Act.
Do you think the SEC could change its mind about disapproving the Winklevoss Bitcoin ETF?
From the way it is, I don't see any new thing coming out of that discussion. Its just a way to cause another confusion and uproar in the crypto-world now that bitcoin is gradually defying all odds to increase at a stable rate. At the end of the discussion, the rejection will still stand then we see the price come crashing all over again.