For three years, two well-known brothers have been trying to convince the US stock exchange supervisor of an investment fund for Bitcoin. But their arguments do not draw. Financial auditors see too much room for fraud and manipulation.
Setback for the digital currency Bitcoin: The US stock market supervisory authority SEC has rejected the first index fund, which should make investments in the crypto money available to broader investors. The financial product was too susceptible to manipulation and fraud because of the lack of regulation of the bitcoin trade, the authority justified its decision.
The bitcoin rate, which had hoped that the fund would be approved before a record high of more than 1300 dollars, then fell back to just over 1000 dollars. He recently recovered slightly at around 1100 dollars.
The SEC decision is a big blow for the twins Tyler and Cameron Winklevoss, who are behind the planned investment fund and have been trying to convince the wardens for three years. With the “Winklevoss Bitcoin Trust ETF” they wanted to establish the digital currency in the financial markets.
TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube
