Bitcoin reaches new high as SEC reviews Winklevoss ETF



Site Admin
Apr 2017
It's happening a second time... there is optimism in the market as the SEC is reviewing its decision to approve or deny the world's first Bitcoin exchange-traded fund (ETF) proposed by Cameron and Tyler Winklevoss. The decision is expected before or on May 15, 2017.

In March 2017, the SEC denied an application by the Winklevoss twins to list the ETF. Their proposal involves listing the ETF on the Bats BZX exchange, one of the largest US equities market operator. Bats BZX filed a Notice of Petition to review the SEC decision, which was accepted, meaning the SEC will look into it's initial decision. In a statement made by the SEC:
The Commission hereby establishes that any party to the action or other person may file a written statement in support of or in opposition to the Disapproval Order on or before May 15, 2017
Traders are hoping that this at least opens the doors to the ETF getting a second shot at being approved.

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