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Exchange Commission (SEC) has rejected the proposal for a rule change which would have led to the of Tyler and cameron Winklevoss-led exchange traded fund based on bitcoin price movement.
The rejection comes a year after SEC had turned down a rule change request from the Bats BZX Exchange which sought to list and trade shares of the winklevoss bitcoin trust. The bats requested for a review of the order leading to another wave of expectation from investors that the SEC may accept a cryptocurrency based derivation. However, the SEC reiterated he concerns it had raised in its previous order as per the order published on Thursday.
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