{"id":3114,"date":"2018-01-11T03:23:47","date_gmt":"2018-01-11T03:23:47","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=3114"},"modified":"2018-01-11T03:24:48","modified_gmt":"2018-01-11T03:24:48","slug":"funds-withdraw-application-launch-bitcoin-etfs-secs-request","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/funds-withdraw-application-launch-bitcoin-etfs-secs-request\/","title":{"rendered":"Funds Withdraw Application to Launch Bitcoin ETFs, at SEC\u2019s Request"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2009 alignleft\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2017\/12\/bitcoin.jpg\" alt=\"\" width=\"380\" height=\"250\" \/>At the request of US SEC officials, several funds, including <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1174610\/000119312518006998\/d506454daw.htm\">ProShares<\/a>, Raffety Assets Management, and <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1137360\/000093041318000050\/c89704_aw.htm\">VanEck<\/a>, have withdrawn their applications related to the launch of Bitcoin ETFs. The decision follows SEC\u2019s concerns over the liquidity and valuation of Bitcoin. The proposals were actually Bitcoin futures ETFs as the reference rate would be based on the price of futures traded in <a href=\"https:\/\/www.legitgambling.com\/news\/cme-launch-bitcoin-derivatives-trading-december\/\">CME<\/a> and CBOE.<\/p>\n<p>It can be remembered that the SEC had rejected the ETF proposal submitted by the <a href=\"https:\/\/www.forbes.com\/sites\/laurashin\/2017\/03\/10\/sec-rejects-winklevoss-bitcoin-etf-sending-price-tumbling\/#26866eb9643c\">Bitcoin billionaire brothers Winklevoss<\/a>, last year. The market was expecting the SEC to consider the proposals, following the launch of Bitcoin derivatives by CME and CBOE last month. A successful launch of Bitcoin Futures ETFs would have accelerated mainstream acceptance of the crypto currency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the request of US SEC officials, several funds, including ProShares, Raffety Assets Management, and VanEck, have withdrawn their applications related to the launch of Bitcoin ETFs. The decision follows SEC\u2019s concerns over the liquidity and valuation of Bitcoin. The proposals were actually Bitcoin futures ETFs as the reference rate would be based on the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69,68],"tags":[],"class_list":["post-3114","post","type-post","status-publish","format-standard","hentry","category-bitcoin","category-cryptocurrency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Funds Withdraw Application to Launch Bitcoin ETFs at SEC\u2019s Request<\/title>\n<meta name=\"description\" content=\"Following SEC\u2019s concern over Bitcoin\u2019s liquidity and valuation, ProShares and VanEck has withdrawn their applications related to Bitcoin ETFs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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\/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/funds-withdraw-application-launch-bitcoin-etfs-secs-request\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/funds-withdraw-application-launch-bitcoin-etfs-secs-request\\\/\"},\"author\":{\"name\":\"Cameron Bishop\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"headline\":\"Funds Withdraw Application to Launch Bitcoin 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