Winklevoss ETF Rejected

[GeckoTrader]

Earlier this morning the news broke of the Winklevoss ETF application being rejected by the SEC.

This does not come a surprise and is no cause for concern. The Winklevoss twins have already been on the receiving end of an SEC ETF application rejection, so they tried again, to no avail.

At the moment there are about half a dozen ETF applications that have been submitted to the SEC by the CBOE and Direxion investments, as well as the recently rejected Winklevoss application.

The CBOE ETF application is the centre of attention and has the best chance of approval.
Looking at the differences between the CBOE application and the Winklevoss application it us easy to see why.

The key difference between the two is target audience. The CBOE ETF is targeted at large/institutional investors with individual share allotments of 25 BTC. Something that is simply out of reach for the everyday retail investor.

The Winklevoss ETF on the other hand has an individual share allotment size of about 0.01 BTC, targeted towards retail investors.

The main responsibility of the SEC is to protect retail investors. The SEC has other stipulations such as custodianship and insurance which would have factored into their decision to reject the Winklevoss application.

The news this morning is just a stepping stone towards regulatory clarity. There are positive events on the horizon for both US BTC ETF's as well as overseas ETF's in countries like Japan.

We will be keeping our ear to the ground on the developments of BTC ETF applications, until next time, over and out.

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[Atrom_84]

That’s a bad news for Winklevoss ETF but I hope they will improved their strategy and then again applicate for approve to SEC and then they will be approved.

[Tappertit]

This is a no unusual news. It was thought by many analysts that this ETF approval might not be approved. ETF hype helped BTC rise high this year and ETF declination will effect BTC market eventually as far as have been started. But BTC will survive this as per my assumption but in a slow way. This year BTC price may rise higher.

[sunlitit654]

Good question. I have heard that they have taken this decision for concerning the stabilities and securities of market products and also for providing better service to the investors of trade.

[WaterSeal]

The rejection was kind of surprising to me but it was not unexpected. Of corse, everything doesn't go well at a time so it's okay. I think it was the market manipulation once again, nevertheless, it doesn't and won't actually affect BTC , let's hope for the best.

[Retty]

There is too much being made of this rejection. I - like many others - expected it to get rejected and in all honesty i think most of us are waiting on the  CBOE and their efforts to get an ETF approved, which many are a little more optimistic on because of what that will actually mean.

 Sooner or later it will happen and when it does then the fun will really begin and the FOMO will be on a scale that will be a thing of beauty!

[Wrathhawk]

This is really bad news but this is a message for the creators of new projects that the market has become very much competitive. So before coming to this market, the creators need to be very careful about the requirements of this market.

[Sandus_Cryptolover]

If there is anything I like now is the competition in the Cryptoworld. It will definitely filter off mushrooms project and only retain good projects with good product use. On the long run will enhance market stability.

This is really bad news but this is a message for the creators of new projects that the market has become very much competitive. So before coming to this market, the creators need to be very careful about the requirements of this market.

[9000]

However, I don't think that we have to worry about it, because it will be accepted in some period of time. It means that we still have a window of opportunities, so there are some time to earn or buy a bit of crypto.

[btyco]

This is good because now larger investment companies will know what they must overcome in order to get that etf approval. How they will get around the price manipulation issue is something we all want to know

[Thanasis]

This news can only create the temporary dump in the price of bitcoin,sooner the price will again go in the upward direction.So as a long time investors no need to care about the rejection or approval of these things because it is not going to make anything better than the volatility of the bitcoin prices from the big investors.

[Wrathhawk]

The ETF denial is very likely to harm the investors mainly. BTC will get ETF approval no doubt on that but, the rejection was very predictable for the Winklevoss brothers. Hoping they will do better and take greater lengths next time on.