Winklevoss bitcoin ETF rejected by SEC

The Securities and Exchange Commission Thursday rejected a bid by Cameron and Tyler Winklevoss for the first-ever, Bitcoin-related exchange-traded-fund. The SEC rejection marks another attempt by the duo to create the first Bitcoin-pegged ETF that will pass muster with regulators. The news pushed the price of Bitcoin [s:btcusd], the world’s biggest digital currency lower, with a single coin last trading at $8,113.16, down 0.9% since 5 p.m. Wednesday on the Kraken Exchange. The SEC is yet to approve a digital-currency-related ETF citing concerns around liquidity and custody-the security and holding of the underlying digital asset. There remains at least two more proposals for a Bitcoin ETF under review by the SEC, including one by Bitwise Asset Management and the joint proposal by VanEck and SolidX.

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