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- SEC Charges Additional Defendant in Fraudulent ICO Scheme
- Warren Buffett Simply Blew it on Wells Fargo Stock: Dick Bove (Video)
- Barclays and Deutsche Bank to Lag U.S. Trading Peers
- NY AG Schneiderman Seeks to Close Loophole That Could Let Trump Pardons Block State Charges
- 'Fearless Girl' is Moving to NYSE After Year Staring Down 'Charging Bull'
- What's In Your Wallet - American Express Shares Soar After Earnings Release
- Deutsche Bank's Executive Departures Continue Following Change in CEO
- Reflections of an Economist Commissioner (SEC's Piwowar)
- Billionaire HF Manager and The Fed Chair Runner-Up are Investing in New Cryptocurrency
- Court Finds 2 Brokers Liable for Fraud Involving Mortgage-Backed Securities
- One FINRA: An Organization’s Commitment to Diversity and Inclusion
- 2018 GASB Accounting Support Fee to Fund the Governmental Accounting Standards Board
- Barclays Eyes Move Into Cryptocurrency Trading
- Goldman Breaks From Wall Street Pack with Bond-Trading Boom
- Janney Montgomery Scott CEO Joins FINRA Board of Governors
- SEC Encourages Investors to Do Background Checks on Investor.gov
- The Martin Act: Wall Street Titan Takes Aim at Law That Tripped Him Up
- Bank of America’s Cost-Cutting Drive Pushes Profit to Record
- Larry Fink: Wall Street’s $6 Trillion Man Finally Worth $1Bn
- Activist Investor Wants Barclays Investment Banking Overhaul (Video)
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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.