Breaking News! SEC Declines Bitcoin Future ETF!

Rejected! Bitcoin future exchange traded funds (ETF) have been rejected according to Finance Magnets. It was only a few weeks ago that the SEC delayed their rulings on the ETF. Now there is a decision: Rejected!

CCN cites that the SEC is concerned that a Bitcoin futures market would not be a significant enough size to protect against potential fraud and manipulation of Bitcoin markets as a reason for the rejection of the EFT.

Dipping CryptoMarket

According to CCN, the CryptoMarket reacted positively hours before the SEC came out with their ruling in anticipation of the ruling. However other CryptoNews sources are reporting a dip in the CryptoMarket due to the SEC ruling. Bears are happy once again! Newbtc reports that there was a near record high in Bitcoin shorts.

Bitcoin hodlers are still hodling strong. This is because the game is far from over. There is so much change and progress in the Cryptoworld that there is room for an optimistic future.

Conclusion

There is no conclusion to this story because the crytocurrency saga is full of twists and turns. Anything can happen. CryptoMarkets are very volatile. So never invest more than you can afford to lose, manage your risk, and stick to your trading rules. Disclaimer: this article is not financial advice, just an update on the SEC cryptocurrency ruling. Do your own research!