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SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]

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Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]

#4
post #2

Yet the price has only dropped around 80 dollars compared to yesterday. Not too bad. For a few minutes it dropped by around 250 dollars but it picked up quickly somehow.

It just happened, not many people are aware of this news yet and Bitcoin tends to be volatile as all hell, give it a few days to sort itself out.

Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]

#6
post #2

Yet the price has only dropped around 80 dollars compared to yesterday. Not too bad. For a few minutes it dropped by around 250 dollars but it picked up quickly somehow.

It's dropped around 200 at the moment. http://bitcoinity.org/markets

Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]

#7
post #4
post #2

Yet the price has only dropped around 80 dollars compared to yesterday. Not too bad. For a few minutes it dropped by around 250 dollars but it picked up quickly somehow.

It just happened, not many people are aware of this news yet and Bitcoin tends to be volatile as all hell, give it a few days to sort itself out.

More specifically, wait for the news to be translated to Mandarin

Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]

#9
post #2

Yet the price has only dropped around 80 dollars compared to yesterday. Not too bad. For a few minutes it dropped by around 250 dollars but it picked up quickly somehow.

it went up 1000% without the ETF...suggesting anticpation of the ETF only played a minimal role..I would be a dip buyer here

Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]

#10
"The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated.

Based on the record before it, the Commission believes that the significant markets for bitcoin are unregulated."

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