Thursday, July 26 might go down as a severe setback for the prospect of bitcoin exchange-traded funds (ETFs). For the second time, the same major trust applying for bitcoin ETF approval was rejected by the United States Securities and Exchange Commission (SEC). SEC Release No. 34-83723, File No. SR-BatsBZX-2016-30 formally denied the Winklevoss Bitcoin Trust ability to list and trade shares. The decision comes amidst high levels of optimism toward bitcoin ETF approval as soon as next month. At least one SEC official does not agree with her colleagues’ decision.
Also read: Coinbase Flexes Muscle, Creates Political Action Committee