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sec rejects winklevoss twins' plan to trade bitcoin as stock

sec rejects winklevoss twins' plan to trade bitcoin as stock News Article With The full text news and with Resource Link at the bottom of the text and you can View this News Article in the source page.



sec rejects winklevoss twins' plan to trade bitcoin as stock

as the verge notes, the proposed winklevoss bitcoin trust exchange-traded fund (etf) would have created a common stock fund tied to the price of bitcoin. traders who purchased shares of the bitcoin trust etf would be investing in the cryptocurrency's value, without actually owning -- or being able to spend -- any bitcoin themselves. although experts speculated that the price of bitcoin would double if the winklevoss etf was approved, the price of bitcoin actually sank dramatically after the sec's announcement.while the sec ruling is definitely a setback for the currency's official acceptance, it's unlikely to have a longterm effect on bitcoin values overall and several hours after the sec's announcement, bitcoin values had started to bounce back. meanwhile, two other etfs that were aw...