Finance Magnates reported earlier this week that the SEC rejected another round of Bitcoin ETFs this past Wednesday. Now, the commission says that it will place the three applications (from Proshares, GraniteShares, and Direxion) under review. It’s not yet clear when the review will be completed.
Still, others are skeptical. In an exclusive email to Finance Magnates, Bitcoin IRA Founder Chris Kline wrote that “while I don’t believe these whales will have a predominant foothold on the industry in the future, I do believe that the SEC’s caution and oversight is necessary and legitimate in order to fully protect customers as the industry stands right now.”
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