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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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 ... The COIN ETF is the more well known of the two ETFs. Generally it is the bitcoin ETF people are talking about. It has gotten a lot of press already and will get even more if it launches. COIN - What. Officially called the WINKLEVOSS BITCOIN TRUST, it is sponsored by Math-Based Asset Services, LLC. Math-Based Asset Services is wholly owned by ... The Winklevoss Bitcoin Trust would be the first publicly-listed bitcoin ETF. The trust is owned by Math-Based Asset Services, LLC, an entity set up by the Winklevoss twins. The Trust famously beat the Winklevoss brothers’ bitcoin ETF to market and drew significant column inches as a result. The Winklevoss ETF (for some strange reason associated possibly with risk ... 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 ...

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SEC rejects Winklevoss bitcoin ETF proposal for the second time

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 ... Winklevoss twins have filed the necessary documents to have the SEC approve an ETF that tracks Bitcoin the crypto currency. WSJ follows the story and sheds light on the Winklevi past with Bitcoin. 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 ... 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... Mar.10 -- Bloomberg’s Cory Johnson discusses the Securities and Exchange Commission’s rejection of a filing for a Bitcoin ETF by Cameron and Tyler Winklevoss. He speaks with Caroline Hyde on ...

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