Bitcoin-ETF Proshares application was rejected

Another SEC refusal over Bitcoin-ETF. The market reaction was expected: the coins lost in price.

Application for Bitcoin ETF and Proshares Short Bitcoin ETF from Proshares, aimed at SEC, could not justify the expectations of the cryptosocial community. It became known that the US Commission made a negative verdict.

Official answer: The application fully does not comply with the requirements prescribed for the conduct of stock exchange activities. In an attempt to slow down the voltage in society, the SEC representatives noted that their decision was not associated with negative evaluation judgments about the very nature of Bitcoin.

The refusal did not become the first — previous applications were rejected with similar wording. The following decisions are waiting for Vaneck and Solidx, previously SEC has transferred consideration of their application for September 30.

The cryptocurrency market reaction was expected — the negative SEC solution was the reason for some reduction in the value of the main coins. Bitcoin managed to demonstrate the touch of a level of 6300, after which the correction began against the background of a strong fall.
In any case, growth in anticipation of the decision is completed. Another transition to the lateral movement and waiting for positive solutions from the SEC and the general changes of the news background are probable.

Earlier we wrote