In the Margins

SEC says no (again) to bitcoin ETF

March 31, 2017

By The Wall Street Journal

The Securities and Exchange Commission rejected a proposed bitcoin exchange-traded fund backed by SolidX Management LLC that was seeking to list on an affiliate of the New York Stock Exchange. Earlier this month, the commission rejected a similar proposal from bitcoin entrepreneurs Cameron and Tyler Winklevoss and the Bats BZX Exchange. The reasoning in both instances was the same: the lack of transparency around the stateless and largely unregulated currency, which could open investors to fraud and manipulation. Read the original story from The Wall Street Journal.