SEC rejects Winkelvoss Bitcoin Trust

[kpitcher]

https://bitcoinmagazine.com/articles...tcoin-etf-now/

Almost four years in the making, in a highly anticipated verdict published earlier today, the U.S. Securities and Exchange Commission has rejected the the Winklevoss Bitcoin Trust exchange traded fund (ETF).

An ETF is an investment fund that holds assets like stocks, commodities or bonds, and trades on stock exchanges. This ETF, the Winklevoss Bitcoin Trust intended to have been listed as COIN, would have let institutional investors invest in bitcoin, without actually needing to buy or hold the digital currency themselves; these would be held by a custodian, Gemini.

In its decision, the SEC singled out two major concerns regarding the application. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated.

[FSP-Rebel]

Price dived but we're mostly back in the same ballpark, alts going crazy - wonder how long that will last.

[kfarnan]

How would it help anyone but these two punks. Regulation is centralized.

[kpitcher]

How would it help anyone but these two punks. Regulation is centralized.

The "average" investor that is comfortable with things on a stock market could be involved. That'd probably be a good thing overall.

[Chester Copperpot]

The "average" investor that is comfortable with things on a stock market could be involved. That'd probably be a good thing overall.

yep.. if this got approved it would make bitcoin go up in price... it would increase value... im comfortable buying stocks and im pretty computer savvy but I dont know anything about all the potential pitfalls with owning/protecting a bitcoin investment

[kpitcher]

yep.. if this got approved it would make bitcoin go up in price... it would increase value... im comfortable buying stocks and im pretty computer savvy but I dont know anything about all the potential pitfalls with owning/protecting a bitcoin investment

I'm sure there are plenty of us on the forum who would be happy to help with any bitcoin concerns. Easy enough to buy some and store safely.