The 12 Months of Crypto: July
SEC Denied the Winklevoss ETF (again)
This is part of a 12 part highlight reel by BlockWorks Group where we review the biggest crypto and blockchain story from each month of 2018.
The Story
On July 26th, the SEC denied the Winklevoss twins of their proposed Bitcoin ETF.
Citing concerns about reliability of trading and volume data for Bitcoin, as well as liquidity and manipulation concerns, this marked the second time that the SEC denied the Winklevoss twins of a Bitcoin ETF.
In addition to denying the Winklevoss’ Bitcoin ETF, the SEC announced that they would be delaying further Bitcoin ETF decisions until September.
Then, in September, the SEC delayed the decision until February 27, 2019 (the maximum period of consideration — 240 days — after the proposed rule change was first published on July 2, 2018).
Interview about the Bitcoin ETF
On September 29th, we sat down with Gabor Gurbacs, VanEck’s Director of Digital Assets Strategy, to get the latest on the Bitcoin ETF debacle.
The Ultimate Guide on Bitcoin ETFs
Anthony Xie recently published a guide that breaks down:
1. What is an ETF?
2. How are ETFs created?
3. How do Bitcoin ETFs work?
3a. ETFs that Physically Hold Bitcoin
3b. ETFs that Purchase Bitcoin Derivatives
4. Why has the SEC Continued to Delay ETFs?
5. ETFs that Hold Physical Bitcoin are better than ETFs Trading Bitcoin Derivatives
You can find that guide using this link.
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