SEC To Reconsider Staff's Rejection Of 9 Bitcoin ETFs

Law360 (August 24, 2018, 7:15 PM EDT) -- The U.S. Securities and Exchange Commission said on Thursday that its commissioners will review a recent staff decision to reject nine bitcoin-based exchange traded funds, meaning agency leaders will take a closer look at a potentially innovative but untested investment idea that worries skeptics about fraud possibilities.

In letters provided to NYSE Arca Inc. and Cboe Global Markets, which have proposed rule changes that would enable them to to list bitcoin ETFs, the agency said staff rejections of the proposals issued Wednesday have been stayed pending a review by the full commission.

"The Office of the Secretary will notify you of any...

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