Regulatory · March 10, 2017
SEC rejects Winklevoss spot Bitcoin ETF (COIN)
Price at event
$1,112
Today
$73,594
Since then
×66.2
On March 10, 2017, the SEC disapproved the BATS BZX Exchange's proposed rule change to list the Winklevoss twins' COIN bitcoin ETF, citing the lack of regulated bitcoin markets and the absence of surveillance-sharing agreements to deter manipulation. The decision capped a nearly four-year quest begun in 2013 and established the market-manipulation rationale the SEC would recycle to reject spot bitcoin ETFs for the next seven years, until it was finally cornered into approving them in January 2024.
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