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Stories of Interest
- I Owned Bitcoin For a Weekend and Here's What I Learned
- SEC Appoints New Chair and Board Members to PCAOB
- FINRA, Georgetown Team Up to Deliver 'Certified Regulatory and Compliance Professional' Program
- FINRA Board Meeting - This Week's Agenda
- Statement on Cryptocurrencies and Initial Coin Offerings - SEC Chair Clayton
- Company Halts Initial Coin Offering Over SEC Registration Concerns
- Kevin O'Leary Explains One Big Thing People Don't Understand About Bitcoin (But Need To)
- CME Bitcoin Futures: A Better Way to Buy (or Short) Bitcoin?
- Address at ICI's 2017 Securities Law Developments Conference - SEC Commissioner Stein
- New York Pension Fund Seeks More Pay Disclosure from Wells Fargo
- Wells Fargo Sanctions Are on Ice Under Trump Official
- Josh Brown: Here's How to Buy Bitcoin, But Realize It Could Be One Giant Bubble
- Trump's New Tax Plan Could Cost Citigroup $20 Billion
- Morgan Stanley Fires Former Congressman Harold Ford Jr.
- Al Franken Will Resign Over Sexual Misconduct Allegations - His Full Resignation Speech
- Ex-NFL Player Gets 40 Years for Running $10Mn Fraud
- Bitcoin Blows Past $15K, Adding $2K in Under 12 Hours
- Financial Adviser Settles Charges for Defrauding Private Equity Fund Investors
- New Cross Market Equity Supervision Report Cards - FINRA Phone-In Workshop, WebEx Presentation
- Mueller Just Crossed Trump's Red Line, With Deutsche Bank Subpoena
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NEWSLETTERS & ALERTS
Wall Street News
SEC Denies Application to List SolidX Bitcoin ETF
For the second time in just over 2 weeks, the SEC has denied an application to list an exchange-traded fund (ETF) that would track the bitcoin, a digital currency. Today’s application had been filed by NYSE Arca, which sought to list and trade the SolidX Bitcoin Trust. On March 10, BATS had applied to list and trade the Winkelvoss Bitcoin Trust. [Click on Financialish, 3/10/17]
The SEC has expressed continued concern over the volatility of this virtual currency, and market reaction following the SEC rejection has shown that the concerns are real. After the SEC denied the Winkelvoss Trust application, bitcoins fell in price by as much as 18% against the dollar, to $978.76 a bitcoin. Prior to today’s SEC announcement, bitcoins were trading at about $1,055.
There remains one bitcoin application with the SEC – filed last year for the Grayscale Investments Bitcoin Investment Trust.