Cryptocurrencies
Bitcoin Bounces as Traders Seek Silver Lining in SEC ETF Denial
- Dissenting SEC Commissioner Peirce reiterated support for ETF
- Peirce was outvoted 3-1 when regulator rejected the fund
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Cryptocurrency traders don’t know who to believe in the long-running battle to create an exchange-traded fund that invests in Bitcoin.
Less than 24 hours after the U.S. Securities and Exchange Commission fueled a slump in the virtual currency by rejecting plans to list such a fund, Bitcoin rallied as Commissioner Hester Peirce expressed support for cryptocurrency ETFs in an interview with Bloomberg Radio. Peirce dissented from the SEC decision on Thursday.