Hi HODLers, Hiveans and Lions,
SEC is not giving up yet but I can feel that we are getting closer. They have rejected the recent Bitcoin ETF filings BUT it is not a 100% negative.
This news sent Bitcoin price down more than $1,000.
The SEC argues that filings didn't have enough detail with respect to the “surveillance-sharing agreements," including which spot bitcoin exchange would be used.
The SEC stated:
The asset managers can update their applications and refile, and the CBOE indicated to the WSJ and to CoinDesk that it plans to do so.
This is obviously a negative news but it does not close the door to approve a Bitcoin Spot ETF as Blackrock or Fidelity would just need to take into account SEC's comments.
In a more recent news, we learned that Coinbase will partner with Fideliity to be its surveillance partner in order to resubmit their application. More info here
Stay safe out there,
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