i don't believe any of these applications will pass. it's going to take many years to convince the SEC to rubber stamp something like this.
Same. All the hype around these applications seem like an excuse to pump and sell into the market. The SEC doesn't take ETF applications lightly; some take years for approval. Given their lack of insight into, and jurisdiction over the spot market, they have every reason not to rush approval on an ETF.
Here's a source for the story:
https://www.cnbc.com/2018/07/26/winklevoss-twins-bitcoin-etf-rejected-by-sec.htmlWinklevoss twins bitcoin ETF rejected by SEC- The Securities and Exchange Commission rejected a second attempt by Cameron and Tyler Winklevoss, founders of crypto exchange Gemini, to list the first-ever cryptocurrency ETF on a regulated exchange.
- The U.S. financial watchdog has yet to approve a cryptocurrency-based ETF and in the release Thursday highlights issues with security, market manipulation and investor protection issues.
"...issues with security, market manipulation and investor protection issues" -- this applies to all ETF applications. Doesn't sound promising!