SEC Shuts Down Winklevoss’ Bitcoin ETF for the Second Time

Why the NYDFS regulations will be the next catalyst to bring us to the moon.

There has been a lot of speculation regarding this current rise in price, and what will happen next. We -should- see a slow rise in price for the next few weeks, until we have some news that sends things parabolic.
Lawsky will have regulations out by the end of the second quarter (as stated here multiple times): http://www.dfs.ny.gov/about/po_vc_03112014.htm
A lot of people on here don't understand how much of this works...
Yes, there will be your exchanges like Buttercoin, Circle and others that pop up for regular day to day users once regulations are released. These have already started to launch and accept limited users and don't necessarily have to wait for the NYDFS regulations before starting up. Lawsky has clearly stated that these types of "exchanges" can apply for their bitlicense, even before there is an actual application (all at the above link).
BUT... there are also an entirely different side to the "exchange" argument. In the traditional finance world (and soon to be in Bitcoin world), there are other exchanges that work behind the scenes as liquidity providers, or exchanges that exchanges/hft/wall street will connect into. An example of this is: https://atlasats.com/
What is an ATS? http://en.wikipedia.org/wiki/Alternative_trading_system
These will not go into operation until NYDFS has CLEARLY laid out the regulations in this area. Bitcoin is a new technology which clearly creates controversy, the last thing a company would want to do is put their business at risk by running full steam ahead into an unregulated space.
Many big banks and other exchanges will connect into ATS (and similar) exchanges, and we can already see that there are many instances of banks hiring and implementing Bitcoin:
http://www.coindesk.com/africas-largest-bank-trials-bitcoin-integration-system/
http://finance.fortune.cnn.com/2014/02/25/secondmarket-bitcoin-exchange/
https://www.usajobs.gov/GetJob/ViewDetails/367808700
http://dcmagnates.com/some-good-job-opps-involving-bitcoin-in-major-banks-and-u-s-treasury/
https://capitalone.taleo.net/careersection/usx/jobdetail.ftl?job=669299&lang=en
Putting all of these pieces together, I think it is pretty clear what the next steps for BTC are. Couple all of this with the Winklevoss and SecondMarkey ETFs coming online, and I think we are going to see a really interesting summer: http://www.businessinsider.com/secondmarket-public-bitcoin-etf-2014-3
submitted by nycgoat to BitcoinMarkets [link] [comments]

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There's some talk that the Winklevoss ETF could be beaten to market. A company called SecondMarket runs a bitcoin private trust for accredited investors. ETF Trends Winklevoss Twins Get Second Rejection: Where the Cryptomarket is concerned, talk about establishing an ETF is a big deal right now. Only on Wednesday, BitWise applied to the SEC to establish an ETF and bull's and bears across the spectrum have weighed in on the necessity of an ETF for the digital coins. However today, the SEC rejected the Winklevoss twins second Bitcoin ETF application, citing ... Bitcoin fell after the U.S. Securities and Exchange Commission rejected a request to list an exchange-traded fund run by Tyler and Cameron Winklevoss, showing the regulator remains skeptical that ... SEC Again Rejects Winklevoss Bitcoin ETF. July 27, 2018 . Lara Crigger. On Thursday, the Securities and Exchange Commission voted 3-1 to reject a proposal for a bitcoin ETF run by venture ... The agency said it would not approve the first-ever bitcoin ETF because the digital currency isn't "resistant to manipulation." The Winklevoss twins own cryptocurrency exchange Gemini Trust, where ...

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Bitcoin: Winklevoss ETF Files in New York

Five Reasons the Winklevoss Bitcoin ETF Should Be Approved 1. Look at the premium and spread of the Bitcoin Investment Trust. Right now, bitcoin-exchange-ave... How will this denial effect the market? Will it at all, or can bitcoin stabilize? We are official media partners for CryptoCoinCon on august 18 in Philadelphia! This is awesome news, and I couldn ... The ETF that Winklevoss Trust soon launches will create bridge between conventional stock market and bitcoin. Exact same case applies to the SPDR gold ETF share that skyrocketed the gold price 400 ... Hello everyone, I'm here with an update to the Winklevoss ETF. They have filed in New York for Trust Applications. They have filed in New York for Trust Applications. Twitter: https://twitter.com ... Following the SEC's review of its initial rejection of the Winklevoss's proposal for a bitcoin ETF, the agency has decided to reject the proposal for a second time citing fraud and manipulation ...

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