SEC Decides To Review It’s Rejection Orders For Denying Nine Bitcoin ETFs

SEC Decides To Review It’s Rejection Orders For Denying Nine Bitcoin ETFs

Bitcoin News
August 24, 2018 by Sandra Onyeiwu
1348
After denying various bitcoin exchange-traded funds, the U.S. Securities and Exchange Commission (SEC) has decided to review its rejection orders for denying nine Bitcoin ETFs on Wednesday. The announcement was made by Commissioner Hester Peirce, who dissented from last month’s SEC decision against a Bitcoin ETF proposal from Cameron and Tyler Winklevoss, the owners of
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After denying various bitcoin exchange-traded funds, the U.S. Securities and Exchange Commission (SEC) has decided to review its rejection orders for denying nine Bitcoin ETFs on Wednesday.

The announcement was made by Commissioner Hester Peirce, who dissented from last month’s SEC decision against a Bitcoin ETF proposal from Cameron and Tyler Winklevoss, the owners of the crypto exchange Gemini.

Peirce tweeted, “Yesterday’s staff orders disapproving SRO rules related to a number of bitcoin ETFs stays pending Commission review.” and She then followed with an additional tweet explaining the previous one in plain English.

Commissioner Peirce also provided a copy of a letter addressed to the NYSE, which explains that SEC Chairman Jay Clayton and associated commissioners will carefully review each application to identify whether or not SEC staff ruled fairly.

The decision to review the orders opens the door to the possibility that one or more of the ETFs will be accepted after all. Although the letter did not provide the date for sharing the review decision, it is nonetheless exciting for those who follow cryptocurrencies.

 

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