Phones Laptops Cameras Tablets Headphones Smartwatches VR Headsets This is my NextMSCI’s decision will broaden China A-share access, but this year, funds excluding A-shares are performing best.These funds have gathered significant assets so far this year.The largest ETFs don't always have the most liquid options markets.Will the result offer opportunities in the options space?The index provider is adding the country to its emerging market index.Legendary investor discusses why he sees big economic downturn approaching and how investors can protect themselves.Firm’s head of ETFs discusses the path the company took to build an ETF business.Founder of DoubleLine shares his latest thoughts on the financial markets.The Securities and Exchange Commission on Friday rejected a proposed rule change that would’ve allowed for the creation of the first bitcoin exchange-traded fund—a decision that has followers of the world’s largest cryptocurrency wondering what happens next.

In its ruling, the SEC said it was unnerved by the lack of regulation in a market that is largely based outside of the U.S., and was worried about the potential for market manipulation.litecoin conversion chartFortunately for investors who were hoping to buy into the fund, Friday’s decision won’t necessarily preclude the approval of other proposed bitcoin ETFs.bitcoin calculator algorithmTwo other companies are vying to become the first bitcoin-focused ETF, but what might happen next is unclear.bitcoin gavinThe New York Stock Exchange filed a proposed rule change with the SEC on Jan.bitcoin raw transactions25 to allow the Grayscale Bitcoin Trust to trade on its ETF exchange, NYSE Arca.bitcoin inr live chart

The agency now has until Friday, Sept.22 to issue its ruling.Barry Silbert, the chief executive officer of the Digital Currency Group, Grayscale’s parent company, declined to comment on the Winklevoss decision.bitcoin mining flash driveNYSE Arca filed another rule-change proposal to list shares of the SolidX Bitcoin Trust, another product vying to be the first bitcoin ETF, back in July, but it is unclear what is happening and representatives for SolidX couldn't be reached for comment.One factor that differentiated the Winklevoss proposal from its rivals was the mechanism for tracking the bitcoin price.The Winklevosses planned to use pricing data gleaned from Gemini, a digital-currency exchange launched in late 2015 that commands less than 1% of the bitcoin market.Both the Grayscale and SolidX proposals would peg the price to the TradeBlock bitcoin index.Grayscale’s proposal is widely viewed as the favorite within the bitcoin community, largely because shares of its trust GBTC, +3.34% already trade over-the-counter, often at a premium to bitcoin’s net-asset value.

But some have expressed concerns about potential conflicts of interest at Grayscale.In a comment letter filed with the SEC, Jeffrey Wilcke, a representative of the Ethereum Foundation, pointed out the relationship between the Grayscale trust and CoinDesk, an online news service that covers the digital-currency market.Both Grayscale and CoinDesk are owned by DCG.Wilcke couldn't be reached for comment.Jerry Brito, chief executive director of Coin Center, a bitcoin advocacy group, said the SEC’s concerns about regulation create a “chicken and egg problem.” “How do we develop well-capitalized and regulated markets in the U.S.and Europe if financial innovators aren’t allowed to bring products to market that grow domestic demand for digital currencies like bitcoin?,” he said in an emailed statement.When asked about what’s next for bitcoin, Chris Burniske, blockchain analyst and products lead at ARK Invest, said it is “clear that the SEC still has a way to go in terms of getting comfortable with the bitcoin markets.” Bitcoin market experts said the Winklevoss’s could modify their proposal to address some of the agency’s concerns, but that they would need to start the process again from the beginning, and that BATS would need to issue a new proposed rule change, which the agency would then have a maximum of 240 days to consider.

For their part, the Winklevoss brothers say they remain committed to bringing “COIN” to market.“We began this journey almost four years ago, and are determined to see it through.We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors,” said Tyler Winklevoss in an emailed statement.Bitcoin BTCUSD, +0.33% sold off sharply after the decision, with the price of a single coin losing $250 in a matter of minutes.But it quickly bounced back, and was trading down 6.3% on the day at $1,116 late Friday in New York, according to the CoinDesk bitcoin price index.Spencer Bogart, the head of research at Blockchain Capital, said this is evidence that the ETF presented “no change to bitcoin’s compelling fundamental growth story.” “The drivers of bitcoin demand remain as strong now as they were two months ago before the ETF fervor arrived,” he said.News business and finance SEC Considers Ether-Based ETF Proposal, Orders Review Of Prior Bitcoin ETF RulingThe Securities and Exchange Commission is examining cases that may allow cryptocurrency-based exchange-traded funds.

The Securities and Exchange Commission is currently mulling over a decision to greenlight EtherIndex Ether Trust's exchange-traded fund.SEC acceptance of an ETF based in Ether would signal a victory for players in the industry seeking acknowledgement from central banking corporations and legislative bodies, both of which have a strong influence over the policies and regulation of the virtual currency ecosystem.On Friday, the SEC released a statement indicating that the commission had published proposed rule changes that would allow such a listing for comment in February, but had received none.The statement went on to delineate Ether from bitcoins: "The Exchange represents that unlike bitcoin, ether was not designed to function purely as a store of value.Instead, ether was meant to pay for specific actions on the Ethereum Network.However, according to the Exchange, ether’s market is currently supported by many of the same online exchanges and the same infrastructure that has developed around the bitcoin network."

Currently under a separate review is a proposal that the SEC previously rejected in March, as reported by ETHNews.Gemini Exchange founders Cameron and Tyler Winklevoss sought approval to trade bitcoin as a security on the BATZ BZX Exchange Inc and filed for a review of the rejection following the SEC ruling.On Monday, the SEC opened the forum for statements for or against or the action until May 15.The decisions will either herald overarching policy changes in the United States as virtual currencies are widely adapted to suit many purposes, or will force those pushing approval to go back to the drawing board.ETHNews is commited to its Editorial Policy Like what you read?Follow us on Twitter @ETHNews_ to receive the latest on SEC, ETF or other Ethereum business and finance news.Porsche Announces Innovation Contest Winner EY Launches Blockchain Financial Services Center In New York Comcast, NBCUniversal, Disney, And Partners Investigate Blockchain Solutions IMF Studies Distributed Ledger Technology On A Global Level TABB Report Indicates Growing Interest In Blockchain Among Custodian Banks