Assessing The Prospect Of A Bitcoin ETF As Deadline Looms

Law360, New York (March 9, 2017, 5:17 PM EST) -- For the last 3 1/2 years, the U.S. Securities and Exchange Commission has been considering whether to approve placement of the Winklevoss Bitcoin Trust ETF (Nasdaq: COIN) on the Bats exchange. The Bats exchange is currently the largest U.S. equities market operator, and placement of COIN on the exchange would essentially allow anyone to buy bitcoin just like a common stock. However, on March 11, the SEC must either approve COIN as the first bitcoin exchange-traded fund in the United States, or reject it, because the SEC is finally out of extensions to make a decision. 

The SEC’s approval of COIN would likely be...

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