The SEC has just announced that it will reject the Winklevoss brothers’ ETF request, and the market plunges immediately after the announcement.
Risk of market manipulation, investor protection and security.
The SEC voted against the Winklevoss brothers’ ETFs last night, citing investor protection and security. This is the second refusal this year for the Winklevoss brothers, the first billionaires of Bitcoin. Other requests for the creation of ETFs remain to be addressed by the SEC in the coming months. Nevertheless, considering this first decision, and the reasons that were given, the probabilities lean in favor of a new refusal by the SEC.
Join Crypto Analyse’s community
The market plunges
Speculation around the potential arrival of ETFs was the driving force behind the rise. The market immediately reacted that night, Bitcoin has returned the support to 8000 USD. The CEO of Bitmex may have been right: . Bitmex CEO may have been right:
“A further 30% decline will occur before the start of the Bull Run”
In reality, everything will depend on the reaction of operators to the support approach to 7800 USD. We will see this in today’s Bitcoin analysis!
A decision disapproved by the Blockchain community
The decision was voted 1 to 3. Hester Peirce is the only one to vote for. This morning she had 1700 Followers on Twitter, this afternoon she has 6500!
Apparently, bitcoin is not ripe enough, respectable enough, or regulated enough to be worthy of our markets. I dissent: https://t.co/gH5zXaKtmj
— Hester Peirce (@HesterPeirce) July 26, 2018