Those poor boys. Although they got $65M from Zuckerberg in the Facebook mess, and they did come in 6th in the rowing competition in Beijing, I'm not sure there's any silver lining in this new blow. 

The SEC, today after market close,  rejected their ETF saying that bitcoin is too unregulated and would currently be unable to enter into, the type of surveillance-sharing agreement that has been in place with respect to all previously approved commodity-trust ETPs—agreements that help address concerns about the potential for fraudulent or manipulative acts and practices in this market.

The price of bitcoin is now at $1126 but it was retracing even before this announcement, and it is expected to rise again.  After reading the comments on some of the bitcoin sites, the ETF was seen as an American thing, and most of the bitcoin activity is outside the US anyway, and they don't care about ETF's in most of the world.

So far there are two more bitcoin ETF decisions to go. The SEC decision on SolidX is due on March 30, and the Grayscale decision in October. (There's a stock market saying that if you have an X in your name your stock will tank.)


 


Comments

03/15/2017 12:51am

It is good to know that Zuckerberg helping the poor boys who have the brilliant mind. Now the market flowing the good and the shares of the Facebook make the good profit nowadays. Here in this post, you give the idea of the market trend.

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This is a depressing news for the Winkelvoss twins. With the present situation of the local market, bitcoins would absolutely increase in price. It's the cryptocurrency for all technological transactions online. The government laws and regulations are inevitable. In result, the increase in the price of bitcoins is unavoidable at all cost. I just hope that the Winkelvoss twins recover from this.

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07/10/2017 2:25am

What happened to the Winkelvoss Twins is a normal thing. You cannot expect that every single time they will win a case. I don't think that they are losers, though, because they were able to get 65 million dollars from Facebook creator, Mark Zuckerberg. In life, there will always be times when you would have to lose in order for you to understand how good it is to rise up again. Losing does not mean that you are not worth it. Losing means that you still have improvements to do and that is okay because you get to find out the areas of your weaknesses so you can work on them. After working on your weaknesses, you have a higher chance of winning the next battle of your life.




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