Another day, another Bitcoin ETF rejection.
The U.S. Securities and Exchange Commission refused what would have been the first fully regulated Bitcoin exchange-traded fund. The rule change proposal submitted by Bitwise Asset Management and NYSE Arca ultimately failed to satisfy the SEC’s concerns about cryptocurrency and systemic market manipulation.
In the wake of the latest denial, which joins the Commission’s long list of Bitcoin ETF rejections, CNBC’s Brian Kelly says he’s less concerned that the crypto markets even need an ETF to thrive.
“The problem the SEC has is a huge portion of the Bitcoin trading is done outside of the US. And so the concern is that they don’t have the view into those markets. That being said, there’s been some…