Cryptocurrencies
Bitcoin ETFs Aren't Coming Any Time Soon Thanks to the SEC
- Commissioner Peirce tweets that SEC is reviewing rejections
- Peirce’s push to reexamine ruling seen unlikely to succeed
This article is for subscribers only.
Don’t hold your breath for a U.S. exchange-traded fund that invests in Bitcoin.
Prospects for such a fund took a nosedive on Wednesday when the Securities and Exchange Commission rejected requests to list nine cryptocurrency funds, citing continuing concerns about manipulation and market surveillance. Hester Peirce -- one of four commissioners currently at the SEC -- has since said the agency will review that decision. A ruling reversal is however unlikely.