RATE Group | Breaking: SEC Is Reviewing The Nine Bitcoin-Backed ETF Denials
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Breaking: SEC Is Reviewing The Nine Bitcoin-Backed ETF Denials

23 Aug Breaking: SEC Is Reviewing The Nine Bitcoin-Backed ETF Denials

Posted at 23:35h in Ethereum News by

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The Bitcoin and crypto-backed ETF saga has continued, with the SEC recently revealing that it would be reconsidering nine proposals that were denied on August 23rd. As reported by Ethereum World News, nine ETF applications from ProShares, Direxion, and GraniteShares were rejected yesterday in a triple-blow to the stomachs of crypto investors, with the SEC citing concerns of manipulation and a lack of “significant size” markets to back up BTC’s spot price.

However, with a recent development pointed out by CoinDesk, the U.S. Securities and Exchange Commission will be “reviewing” the disapproval orders, in a so-called “staying” process.

SEC Commissioner Hester Peirce, crypto’s ‘inside woman’ in legacy systems,…

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