Why ETF keeps rejecting Cryptocurrency?

[akashark]

We are waiting for the september month, where ETF can announce their position about the cryptocurrency! But ETF rejected bitcoin and the cryptocurrency more than twice if i am not wrong!

So, I think this time ETF will reject again. But why they keep rejecting ? Because of the volatility nature of crypto or what? What do you think guys?

[bitmover]

Etf was rejected mostly because its price is easily manipulated. Sec allegations were based in investor protection to fraud and price manipulation.

As explained here:


https://www.cnbc.com/2018/07/26/winklevoss-twins-bitcoin-etf-rejected-by-sec.html

Last year, the SEC disapproved an application for the "Winklevoss Bitcoin Trust" but in June, the group submitted a proposed rule change. Among other arguments, the agency said in a release Thursday that it did not support the Winklevoss's argument that bitcoin markets, including the Gemini Exchange, are "uniquely resistant to manipulation." It also highlighted issues of fraud and investor protection.