journey to be the first creators of an exchange-traded fund (ETF) out of bitcoin, the cryptocurrency launched by a mysterious creator and once known for fueling online drug marketplaces. Being uncompetitive in what form of currency is bitcoin the blockchain industry. Cameron and Tyler Winklevoss (Alli Harvey/Getty Images for Spotify). More generally, the Commissions interpretation and application of the statutory standard sends a strong signal that innovation is unwelcome in our markets, a signal that may have effects far beyond the fate of bitcoin ETPs. And as before, the SEC left the door open to potentially approving such products in the future, noting that over time, regulated bitcoin-related markets may continue to grow and develop.
"This was an opportunity for the United States securities industry to implement something innovative and new and were not taking advantage of that. Tyler Winklevoss, chief financial officer of Digital Asset Services, released a statement via email: "We remain optimistic and committed to bringing coin the proposed ticker to market, and look forward to continuing to work with the SEC staff. Blockchain Capital, didn't believe the denial would have too negative an impact on the bitcoin price. Regulator Dissent, sEC Commissioner Hester Peirce wrote a dissension to the decision, saying she believes the proposed rule change satisfies the statutory standard and that we should permit BZX to list and trade this bitcoin-based exchange-traded product (ETP). The bid-ask spreads varied widely across exchanges, the SEC said.