Two days after postponing the decision on Direxions Bitcoin (BTC) ETF Proposals and five other bitcoin ETFs filed by NYSE Arca, Inc, SEC has come vicious this time as it shattered the dream of Winklevoss twins of launching a bitcoin ETF. This is the second time in two years that Winklevoss twins application has been rejected.
Now all eyes will be on CBOE- SolidX Bitcoin ETF which should be next in line for SEC for approval. Although the precedents that the SEC is setting are not really positive, some experts still believe CBOE application is something that can get approved.
Reff:
https://coingape.com/cboe-bitcoin-etf-holds-chance-sec-rejects-winklevoss-proposal/While the effect of this would have made everyone laugh should in case the decision came out positive, I think its really good its happening so everyone can move on from this tying of destiny on ETF approval which might would come with disappointment eventually. For those waiting on the postponed decision, I would not be optimistic about it except there is something significantly different from the ones they have rejected to get another opinion from SEC which could even create more problem as speculations of would rise as to some form of victimisation against the Winklevoss twins for launching their own product first.