Bitcoin, Crypto currency, Blockchain

SEC rejects ProShares Bitcoin ETF, Bitcoin exchange rate unaffected

The U.S. securities and exchange Commission has rejected Bitcoin ETFs from ProShares. The Securities and Exchange Commission saw their conditions not met. The price of Bitcoin responded, however, behavior.

The US securities and exchange Commission has rejected applications to the ProShares Bitcoin ETF. The other ETFs, which wanted the price of Bitcoin Futures represent, have failed before the SEC. Therefore, you are with the requirements of the exchange act of the United States not compatible. Ultimately, the consumer was not ensured protection – here it is the protection against “fraudulent and manipulative measures”, was not given. With the rejection of the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF is the popular financial instruments hold for the time being, not enter into the crypto world.

The Community the decision of the Security and Exchange Commission (SEC) expected for some time. Finally, the admission of the Exchange-Traded Funds would be for Bitcoin is a clear and positive Signal for more conservative investors, as we explain in more detail here. A short-term upturn, the crypto Community was also with the permission of the Bitcoin-Futures in December last year – here, too, the decision sent positive signals. That ProShares could not meet the demands of the SEC, however, should not be one of them. Finally, the decision of the single is physically-backed Bitcoin ETF, VanEck SolidX Bitcoin Trust. This is the SEC up to 30. September to decide. A further and final extension of the deadline, however, is not excluded. The final Deadline for the VanEck SolidX Bitcoin Trust would be the 27. February of next year.

Bitcoin exchange rate to Bitcoin-ETF-decision

The market is responding, however, behavior. So the price of Bitcoin currently has a daily minus of 3.8 per cent. So he is at the time of writing at just 6.440 US Dollar and a weekly increase of 2 percent. Over the month the price of Bitcoin recorded a Minus of almost 23 percent. Also in the top 50 Altcoins, the losses are down to 4.4 per cent in the last 24 hours (so far) got off lightly.

No comparison to the panicky reactions of the investors, as the Bitcoin ETF, the Winklevoss brothers from the SEC received in the year 2017, a final rejection. The alleged founder of Facebook filed a Revision, which was not able to convince the Securities and Exchange Comission.

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