Bitwise Rejected a place in the SEC

[GMoore87]

Can this be an indication of the end of the Cryptocurrency trade?

Also, In the article, it's mentioned

The decision was announced unplanned for the financial markets, as this was communicated to the public after the closure of Wall Street.

Is this normal?

Source - https://ospreyfx.com/the-sec-rejects-another-bitcoin-based-etf/

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[DooMAD]

Can this be an indication of the end of the Cryptocurrency trade?

Only if you mean trading on a stock exchange.  Genuine cryptocurrency transactions are peer-to-peer and don't rely on the SEC or other government bodies for approval.  As such, trading cryptocurrency is unstoppable.

If you're not a licenced bankster, it doesn't affect you.  They need permission to get involved in Bitcoin.  You don't.

[BrewMaster]

Can this be an indication of the end of the Cryptocurrency trade?

do a quick google search of this keyword: "SEC rejects bitcoin ETF" you will find news articles dating as old as 2017 (there may be some in 2016 too). that should answer your question.

[cr1776]

The source seems to be an ESL source so is difficult to understand.  As above, if you search for bitcoin etf, you will likely find some sources that are more useful.  Often decisions and things such as earnings are announced pre or post market in order to give everyone (supposedly) an equal opportunity to react and digest.

Depending on if that is what you are asking.

Can this be an indication of the end of the Cryptocurrency trade?

Also, In the article, it's mentioned

The decision was announced unplanned for the financial markets, as this was communicated to the public after the closure of Wall Street.

Is this normal?

Source - https://ospreyfx.com/the-sec-rejects-another-bitcoin-based-etf/

[CryptoBry]

Can this be an indication of the end of the Cryptocurrency trade?

Also, In the article, it's mentioned

The decision was announced unplanned for the financial markets, as this was communicated to the public after the closure of Wall Street.

Is this normal?

Source - https://ospreyfx.com/the-sec-rejects-another-bitcoin-based-etf/

There is nothing abnormal with the timing of the release of the negative decision on the ETF application of Bitwise Investments plus this was already expected gleaming from the past decisions of SEC regarding similar applications. I am not anymore surprised with the final decision as the grounds of previous decisions remained still existing in the market.

No, this is not the end of cryptocurrency trading as the two are not really that related. Just go over Google and look for more data on the ETF for Bitcoin and you can understand what do I mean. The cryptocurrency market has not been swayed that much with this latest decision of SEC and it can mean that without or without ETF life here has to go on.

[teosanru]

Can this be an indication of the end of the Cryptocurrency trade?

Also, In the article, it's mentioned

The decision was announced unplanned for the financial markets, as this was communicated to the public after the closure of Wall Street.

Is this normal?

Source - https://ospreyfx.com/the-sec-rejects-another-bitcoin-based-etf/

Seriously? end of trading? First of all I don't even categorize ETF as trading because they are funds meant for holding purposes over a bit of time. Most of the trading we do today is done on crypto exchanges and these don't come under the purview of SEC as they are nowhere located in USA. Moreover this was just one etf being rejected and that too was quite obvious considering the Volatility. Instruments trading in normal markets can't be that volatile especially when they are ETF they are meant to earn great profits but over a mid term.

[th3nolo]

Can this be an indication of the end of the Cryptocurrency trade?

Also, In the article, it's mentioned

The decision was announced unplanned for the financial markets, as this was communicated to the public after the closure of Wall Street.

Is this normal?

Source - https://ospreyfx.com/the-sec-rejects-another-bitcoin-based-etf/

The trading of cryptocurrencies cannot be prevented by anyone, also, nowadays there is more infrastructure of decentralized exchanges, so stopping it becomes something practically impossible.

Don't worry for the SEC, they won't allow a Bitcoin ETF in a while and we don't need them.

[lobat999]

Can this be an indication of the end of the Cryptocurrency trade?

Lol. It is not the end of the world for cryptocurrencies as we know it since its just an ETF application that was got rejected by SEC because they are the agency that has jurisdiction over it and I understand ETF is classified as a security and U.S. securities rules and regulations can be applied to it.

For now, its a temporary setback, but I don't think it will have any negative crypto market effects either because its just a financial instrument associated with Bitcoin's price and will not influence market sentiments since we have been experiencing this kinds of news before. So I guess only those Wall St. guys are the only ones excited over it and not with most members of the crypto-community!  Imho.

[Yaunfitda]

Isn't it we have tons of ETF's being rejected by SEC in the past? Winklevoss, Van Eck to name a few. But still bitcoin is moving forward.

So obviously, this is not the end of crypto trading, LOL, this is free and open market, open 24x7x365. The only thing that can stop it is when people suddenly gets tired of trading, but it's unlikely to happen as many are making money here and there are a lot of individuals joining the crypto-sphere every day.

[lobat999]

Can this be an indication of the end of the Cryptocurrency trade?

Lol. It is not the end of the world for cryptocurrencies as we know it since its just an ETF application or rather a proposal that was got rejected by SEC because they are the agency that has jurisdiction over it and I understand ETF is classified as a security and U.S. securities rules and regulations can be applied to it.

For now, its a temporary setback, but I don't think it will have any negative crypto market effects either because its just a financial instrument associated with Bitcoin's price and will not influence market sentiments since we have been experiencing this kinds of news before. So I guess only those Wall St. guys are the only ones excited over it and not with most members of the crypto-community!  Imho.

I hadn't even heard news of them having an etf application, this definitely isn't the same and the ones before that got people losing their shit and moving markets.

Oops. I stand corrected! I should have used instead the term "ETF proposal" for clarity. And on the side note, just found this article https://www.coindesk.com/sec-rejects-7-bitcoin-etf-proposals that is somehow related to the topic but interestingly, it hadn't had much any effect on crypto markets not unlike when that lackluster launch of Bakkt Bitcoin futures recently where the market experienced some downtrend in crypto prices.

[Kyraishi]

It's a small blow to the system, but it's not really that big. Bitwise was going to be a regular exchange that wanted to get involved Bitcoin, but they got rejected by the SEC. Similar to an etf proposal being declined (which happens quite often).

Bitcoin is still moving forward, once it reaches a point where it's completely unstoppable, that's when we'll see the sec have to succumb to demands and pass an ETF proposal.

[Text]

SEC rejections is not the indication of the end of cryptocurrency  period. And it is normal if you look back about the ETF proposal before. So even how many times it gets rejected, trading in crypto world will not fade. Traders choose to involve here cause of decentralization, we don't need their rules that sucks.

[Mandoy]

I think you should change your title and make it more clearer. What the article you mentioned is more about on the rejection of another Bitcoin ETF that was proposed by Bitwise. This is very normal and there is nothing to fear since this is not the first time a bitcoin etf was rejected by the United States Securities and Exchange Commission since last year.

[ChrisPop]

I'll repeat this again and again. Bitcoin does not need ETFs to be successful or raise in value. You are always free to trade BTC p2p, OTC, CFDs or futures. Of course that an ETF is a more professional sort to say way to trade and it will have much more regulations. As a final note to my post I have recently heard from a well-versed trader that he is not expecting a BTC ETF to be approved this year, but much more likely in the next year.

[metallica101]

Can this be an indication of the end of the Cryptocurrency trade?

Also, In the article, it's mentioned

The decision was announced unplanned for the financial markets, as this was communicated to the public after the closure of Wall Street.

Is this normal?

Source - https://ospreyfx.com/the-sec-rejects-another-bitcoin-based-etf/

Hardly a surprise anymore. I had hoped that things might change, and that a plot twist would happen, but it seems like it is still too early for this. A shame, but what can you do.

[goto22]

Can this be an indication of the end of the Cryptocurrency trade?

do a quick google search of this keyword: "SEC rejects bitcoin ETF" you will find news articles dating as old as 2017 (there may be some in 2016 too). that should answer your question.

Actually, I'm pretty sure that Winklevoss twins have been at it since 2013, with one rejection after another throughout the years.

[manok jepang]

This latest news is quite ironic, beforehand, the SEC had delayed or even refused a number of Bitcoin ETF shipments from other exchanges. Some examples are proposals from VanEck and SolidX Bitcoin Trust which were not endorsed in mid-2018. At that time, the regulator stated that they were still considering the feasibility of Bitcoin as an investment instrument.

[GMoore87]

Only if you mean trading on a stock exchange.  Genuine cryptocurrency transactions are peer-to-peer and don't rely on the SEC or other government bodies for approval.  As such, trading cryptocurrency is unstoppable.

But for Crypto's to be accepted as a credible asset, It needs the stock exchange.

[DooMAD]

Only if you mean trading on a stock exchange.  Genuine cryptocurrency transactions are peer-to-peer and don't rely on the SEC or other government bodies for approval.  As such, trading cryptocurrency is unstoppable.

But for Crypto's to be accepted as a credible asset, It needs the stock exchange.

Credible to whom, exactly?  The very fact that these companies are seeking permission to launch a Bitcoin ETF means they already see it as a credible asset.  And naturally all the people using Bitcoin peer-to-peer as intended already see it as a credible asset.