Bitcoin Giants Turn A Blind Eye To U.S. Regulator’s ETF Rejection

[Goodcat49]

After U.S regulators rejected the  Winklevoss twins' demand for a Bitcoin Exchange Traded Fund (ETF), the crypto once more shows its resiliency and hardiness, staying above US$8,000.

On March 10 last year, the Securities Exchange Commission (SEC) rejected the Winklevoss Bitcoin Trust petition to freely commerce the first ever Bitcoin ETF. Nevertheless, the SEC, therefore, has given petition seeking a proper review of the denial.

Not Yet Over
Recently, from the second review that happened on July 26 last week, the SEC once again denied the listing of Bitcoin ETF. In case approved, the ETF would have been listed/traded on the Bats BZX, Inc. Exchange.

As a quick reaction to the SEC denial, Bitcoin's price dropped, shutting off the trading day at US$7,951. Nonetheless, on a day after, the crypto highly diminished its losses, returning back to a lofty of US$8,262.

Particularly, the SEC rejection shows a great repulse for Bitcoin's maniacs and investors. A lot of people hoped that the SEC's approval of a Bitcoin ETF could have activated a major bull run. In fact, Tom Alford, crypto expert & a trader, properly conducted a study and concluded that had it been for the Bitcoin ETF approval,  the price of BTC could have soared by 500%.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-giants-turn-blind-eye-to-us-regulators-etf-rejection/