Winklevoss Twins Aren't Giving Up On Their Bitcoin ETF
Winklevoss Twins Aren't Giving Up On Their Bitcoin ETF
Now May Be a Good Time to Buy Bitcoin
13 March, 2017, 00:23
The assumption was that an approved ETF would open the floodgates to both Wall Street and regular investors who want a stake in the digital currency but didn't feel comfortable purchasing it on their own.
The 35-year-old identical-twin entrepreneurs have been evangelists for bitcoin in recent years, insisting it could even replace gold as a stable currency.
An approval would have meant that the public could invest in bitcoin simply by purchasing shares in the ETF, which would trade on a U.S-based stock exchange.
The decision ended a months-long rally that pushed the virtual money's value higher than gold.
The push to get a Bitcoin led ETF is being run oddly enough by the Winklevoss twins, the pair who sued Mark Zuckerberg for allegedly stealing their idea to create Facebook. Last year, NY state approved regulations governing a new exchange operated by Gemini for a virtual currency called Ether.
In less than an hour after the SEC posted its decision, bitcoin lost $300 of value. Our first inclination on the news Friday was to buy more bitcoin, but as we woke up on Saturday and prepared to enter the market, we noticed prices had already recovered. Last year, bitcoin outperformed all major foreign exchange trades, stock indexes, and currencies and commodity contracts. "It is reassuring that the SEC did their job in properly protecting the market".
Bitcoin didn't have its best day yesterday when the Securities Exchange Commission (SEC) issued its first decision on a bitcoin exchange-traded fund (EFT) by rejecting the Winklevoss ETF. "We began this journey nearly four years ago, and are determined to see it through. We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors", Tyler Winklevoss said in a statement.
Two other bitcoin ETFs under regulatory review - Bitcoin Investment Trust and SolidX Bitcoin Trust - filed more recently, in January of 2017 and in mid-2016, respectively.
Now the ways of buying and investing in bitcoin are fairly limited: on online exchanges or through a trust that charges premium prices.
Bats, which would have hosted the proposed fund's trading on its BZX Exchange operated by CBOE Holdings, is "reviewing the SEC's notice very intently and will have no further comment", said spokeswoman Hannah Randall.
The regulators have questions and concerns about how the funds would work and whether they could be priced and trade effectively, according to a financial industry source familiar with the SEC's thinking.
In a blow to activists, a federal judge this week declined to stop construction of the final section of the $3.8 billion pipeline. Work on the pipeline, which is owned by Texas-based Energy Transfer Partners, was halted in December by the Obama administration.
But her departure sealed the romantic contract between Damon and Elena. "He's a better man", he tells her with tears in his eyes. The Vampire Diaries series finale airs at 9PM est, preceded by a one-hour retrospective on the show, on the CW .
With Sadio healthy and Liverpool's home ground in good shape, things should be different this time around. They were risky enough, all in the six-yard box and Si [Mignolet] did an outstanding job for us.
Full requirements for bidding will soon be revealed. "We are now in the process of defining the bid requirements". He's in charge, together with his government, to take decisions that are best for his country.
The Russian military involvement follows an official request from President Bashar Assad to President Vladimir Putin. Two rounds of global meeting took place on January 23-24 and February 15-16 in Astana.
And when they do return they'll also have to face up to wild boars that have taken up residence since humans moved away. Reports state that teams of hunters have been dispatched to cull the boars from the towns of Namie and Tomioka.
He was sidelined after the Australia-New Zealand inaugural day-night fixture and was forced to undergo surgery. The Australian camp will name a replacement fast bowler to join the squad in the coming days.
As with fighting in Mosul, Iraq, current plans for Raqqa will require cooperation between varying forces in defeating ISIS. The Marine artillery would be able to provide additional combat support for SDF fighters in and around Raqqa .
The festival brings with the colours of life and colours of love and this year it falls on 12th and 13th March . It is primarily observed in India , Nepal, and their diaspora in other regions of the world.
In other news, insider Annette Court acquired 2,150 shares of the business's stock in a transaction on Wednesday, March 8th. The shares were bought at an average cost of GBX 251 ($3.13) per share, with a total value of £44,035.44 ($54,859.15).
Syria's Manbij council urges aid for 130000 displaced
Moscow responded by barring the sales of package tours to Turkey and halting imports of agricultural products. The government forces and armed opposition groups, which have over 60,000 members, have joined the truce.
Creighton? Big East tournament championship 2017
Angel Delgado leads the nation in rebounding, the only player in the country to average more per night than Caleb Swanigan. Sanogo also spent much of his time guarding Kris Jenkins , and helped harass him into a 1-for-8, four-point night.