SEC rejects SolidX Bitcoin proposal of NYSE listing
The Securities and Exchange Commission (SEC) has issued a press release to inform about its decision to reject the list on the New York Stock Exchange (NYSE) of SolidX a bitcoin Exchange Traded Fund (ETF).
SEC’s decision to denie bitcoin-tied ETF list is the second during the month of March. Back on March 10, SEC rejected a proposal by Cameron and Tyler Winklevoss to list a bitcoin ETF.
On its notice for its decision, SEC wrote:
“The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter. First, the exchange must have surveillance sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated.”
The full decsiion by SEC can be found HERE
Source: SEC
