The US Securities and Exchange Commission (SEC) gave the much-awaited ruling on the pending Bitcoin exchange-traded fund (ETF) proposals on Wednesday, and it is not the news cryptocurrency industry was hoping for. The agency rejected all the nine Bitcoin ETF proposals filed by ProShares, Direxion and GraniteShares in three separate orders, according to CNBC. While all the three ETF providers gave their own reasoning for why a Bitcoin ETF should be granted, the SEC has rejected them on common grounds. The agency notes that this rejection doesn’t have anything to do with whether Bitcoin and blockchain technology have utility or value as an…
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https://ift.tt/2OVDMx1 Neer Varshney August 23, 2018 at 06:00AM
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