The proposal to list what could have been the first U.S. exchange-traded fund tracking digital currency bitcoin is up for another review in the Securities and Exchange Commission.
If you recall, the commission SEC rejected the proposal of investors Cameron and Tyler Winklevoss to list their Winklevoss Bitcoin Trust, an ETF created essentially to provide exposure for commodity buyers to bitcoin, on the Bats BTZ exchange back in March.
At the time, the commission said “it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.”
This prompted Bats to file a petition seeking a review of the SEC decision, which was approved by the commission.