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The rejection of Bitcoin ETF by the SEC is not a complete stop for the Winklevoss brothers, the founders of Gemini have a plan for the approval of Bitcoin ETF.
Winklevoss Twins – All together with plan
While the government is in a state of closure, CBOE is proceeding with the treatment of its long-awaited ETF Bitcoin application. On the other hand, Gemini's twin brothers presented a plan to obtain approval for their Bitcoin ETF. Resources reported Mr Winklevoss (quoting for twins), said;
"The quick answer is to (answer) their call and (ask) … more market surveillance in the cryptography market. We started doing it with the Virtual Commodity Association … and bringing the smartest NASDAQ technology to our market. These are the steps in the right direction for regulators to be comfortable with the eventual approval of a product similar to an ETF. "
The background is very similar to AXX's latest decision to use the technology of the London Stock Exchange. As recently reported Coingape, this technique boosts the interest of traditional investors for the cryptography industry and makes the encrypted trading platform much more secure.
@BithumbOfficial An important crypto market in the US after the reverse merger technique https://t.co/bycIuifSGc#Bithumb #CryptoExchange #Crypto #Cryptocurrency #CryptoNews #UNITED STATES #BTHMB #IPO
– CoinGape (@CoinGapeMedia) January 23, 2019
Winklevoss is committed to getting the SEC's approval, but for CBOE, it's absolutely not. According to sources, at the Chicago Board of Directors, CBOE withdraws its proposal for the VanEck-SolidX Bitcoin ETF following repeated delays from the SEC and government shutdown. According to reports, Jan Van Eck, founder of VanEck, told CNBC on Wednesday, January 23, 2019;
"We were trying to do that, but we obviously can not hold meetings when they are closed," "Instead of trying to miss something, we just removed the app."
Nevertheless, the rejection of the SEC is obviously undesirable – as such, Gemini Commissioner, Hester M. Peirce, has stated that;
"Contrary to the Commission's decision, I believe that the proposed rule change meets the legal standard and that we should allow BZX to register and exchange this exchange-traded Bitcoin-based product (" ETP "),"
But the Winklevoss twins have a more positive view of the SEC's decision. They think that the rejection and delays result from the fact that Bitcoin is the new badet. In addition, they believe that the preservation of investor interests is the essence of the plethora of SEC work.
"So, if the commission takes a very conservative view on this, because it will really be the first of a multitude and open the floodgates, you know, we can live with that," Winklevoss said.
In addition, the twins are probably not in a hurry for the SEC's decision. However, they think that the ETF is more than a product and that it is really big.
"I do not think it's unreasonable for regulators to try to do it, it opens up a big border and it has to be opened properly."
What is your interest in CBOE and Winklevoss's point of view on Bitcoin ETF? Share your opinion with us.
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Unlike the withdrawal of CBOE by ETF, winklevoss Brothers is ready with an approval plan for Bitcoin ETF
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The rejection of Bitcoin ETF by the SEC is not the complete stop for the Winklevoss brothers, the founders of Gemini have a plan for the approval of Bitcoin ETF.
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Tabbadum
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Coingape
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