Rejection Aside, Calls for a Bitcoin ETF Are Just Escalating

However, while there’s a great deal of optimism, maybe not everybody, it appears, will soon be convinced until one is finally approved. As always, crypto remains on the prognosis for potential points of failure.
But crypto community didn’t seem to take the news well initially, particularly after bitcoin’s cost dropped from nearly $8,300 following the decision into a low of 7,973.81, according to CoinDesk’s Bitcoin Price Index (BPI).

High expectancy

Level heads

SEC image via Shutterstock

Before going farther, to ensure it is apparent, the bitcoin ETF suggested by the Winklevoss brothers differs from the bitcoin ETF by investment company VanEck and financial service company SolidX, which has triggered a broad conversation in the crypto community over the past week.

Released at Sat, 28 Jul 2018 11:30:39 +0000

For one, there continue to be important institutions supporting the remaining bids.

With that having been said, most members said they will remain optimistic about the near future of a bitcoin ETF.

The SEC, however, also said in the document that”over the years, controlled bitcoin-related markets will continue to grow and grow,” leaving the door open to potentially approving such products later on.

Karma is authentic.

The chief in blockchain information, CoinDesk is a press outlet that strives for the highest journalistic standards and supplied by a strict group of editorial policies.

Regardless of the more extreme reactions others who browse the 92-page response from the SEC mostly struck a much more serene and positive response.

Yet, Thursday’s news definitely threw a wet blanket on expectations.

As mentioned before, though, both bitcoin-based ETFs, Winklevoss brothers’ ETF is essentially distinct from the one suggested by VanEck and SolidX, also ought to have few impact on the long run choices, which is pointed out by many crypto investors and experts.
In any event, the market is surely headed for an exciting September.
Since then, it has obtained over a hundred opinions and it is said that a decision may happen as soon as a month.


Since CoinDesk reported on June 6, VanEck and SolidX announced they have implemented to the SEC for permission to launch the first bitcoin-based ETF, their latest effort to do this after many failures.
Notably, the SEC’s reiteration on concerns over the market surveillance and manipulation is consistent with its remarks during the first refusal back in March 2017.

As the crypto community has been — not so secretly — displaying its joy within Facebook’s historical stock loss, bitcoin’s price took a surprising drop below $8,000. A response to this information that bitcoin exchange-traded fund (ETF), one suggested by brothers and co-investors Tyler and Cameron Winklevoss, had been rejected for the second time, it had been seen as another blow to the market.