RATE Group | Rejection Aside, Calls for a Bitcoin ETF Are Only Escalating
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Rejection Aside, Calls for a Bitcoin ETF Are Only Escalating

28 Jul Rejection Aside, Calls for a Bitcoin ETF Are Only Escalating

Posted at 13:46h in Bitcoin News by

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Karma is real.

Just as the crypto community was – not so secretly – displaying its joy over Facebook’s historic stock loss, bitcoin’s price took a surprising drop below $8,000. A reaction to the news that bitcoin exchange-traded fund (ETF), one proposed by brothers and co-investors Tyler and Cameron Winklevoss, had been rejected for the second time, it was viewed as another blow to the market.

Before going further, to make it clear, the bitcoin ETF proposed by the Winklevoss brothers is different from the bitcoin ETF by investment firm VanEck and financial service company SolidX, which has triggered a wide discussion in the crypto community over the past week.

As CoinDesk reported on June 6, VanEck and SolidX announced that they have applied to the SEC for permission to launch the first bitcoin-based ETF, their latest attempt to do so after several failures.

The SEC responded by calling for comments on the proposal in late June. Since then, it has received more than 100…

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