SEC Commissioner Hester Peirce: Why the SEC Will Review Rejection Orders on 9 Bitcoin ETFs

By Daily Hodl Staff

The SEC will review Wednesday’s decisions to reject nine Bitcoin ETFs.

The announcement was made by Commissioner Hester Peirce, who dissented from last month’s SEC decision against a Bitcoin ETF proposal from Cameron and Tyler Winklevoss, the owners of the crypto exchange Gemini.

According to Peirce, yesterday’s decisions to reject the ETFs – two proposals from ProShares, two from GraniteShares and five from Direxion – were made by staffers. The Commission has now decided to review those decisions after the fact.

Here’s a look at the full statement from the SEC.

The decision to review the orders opens the door to the possibility that one or more of the ETFs will be accepted after all.

The Commission has not released a timetable explaining how long it may take to review the recent rejections.

Image via Scott S/Flickr

[the_ad id="42537"] [the_ad id="42536"]

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.