The Securities and Exchange Commission delivered the second blow this month to the concept of an exchange-traded fund based on the digital currency bitcoin, rejecting a proposed bitcoin ETF backed by SolidX Management LLC that was seeking to list on an affiliate of the New York Stock Exchange. Earlier this month, the commission rejected a similar proposal from bitcoin entrepreneurs Cameron and Tyler Winklevoss, and the Bats BZX Exchange. The reasoning in both instances was the same: the lack of transparency around the...

Source: Wall Street Journal March 28, 2017 19:18 UTC