Following the Securities and Exchange Commission’s rejection of Vaneck’s bitcoin spot market exchange-traded fund on Friday, a number of cryptocurrency advocates discussed the subject this weekend.
regulator rejected Vaneck’s bitcoin spot ETF and cited a lack of prevention toward “fraudulent and manipulative acts and practices” in the market.
In fact, the Proshares Strategy ETF debut captured close to $1 billion in volume and broke records for previously listed exchange-traded funds.
Bitcoin’s store of value story depends on its scarcity and even some difficulty to purchase.
“The SEC is making decisions on the bitcoin spot ETF which benefits hedge funds Wall Street at the expense of retail investors,” Pysh said.
They are fighting a clock – tick, tock, tick…This thing literally feasts on corruption and manipulation and boy is the plate full.
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