Here’s what happened when Bitcoin ETFs were rejected in 2017
- In March 2017, when U.S. regulators rejected the Winklevoss twin’s Bitcoin ETF, Bitcoin price plunged by nearly 20%.
- There is a long history of Bitcoin ETF applications getting rejected by the SEC.
- In the summer of 2018, on a single day, nine Bitcoin ETF applications were rejected.
- Proponents expect BTC prices to plummet significantly in response to any ETF rejection.
Bitcoin ETF rejection could trigger a BTC price drop, according to experts. Historically, ETF rejection has negatively impacted the asset’s price.
Bitcoin ETFs lined up for approval from the SEC
The U.S. Securities & Exchange Commission (SEC) has a history of rejecting ETF applications over the years. From the first Bitcoin ETF filed in July 2013 by Cameron and Tyler Winklevoss to Fidelity’s filing for approval …
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