US SEC Rejects Bitwise Bitcoin ETF Proposal

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The United States Securities and Exchange Commission (SEC) has rejected a proposal to list a Bitcoin (BTC) exchange-traded fund (ETF).the Commission stated that the ETF filing from Bitwise Asset Management and NYSE Arca did not meet the necessary requirements. Specifically, regulators stated that the applicants did not meet the necessary requirements regarding possible market manipulation and illicit activities. Today's decision by the SEC seems to fly in the face of recent comments from Matt Hougan, managing director and global head of research at Bitwise, who on CNBC on Oct. 7 said, “We’re closer than we’ve ever been before to getting a Bitcoin ETF approved.” Read more 
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