Cryptos Tumble As SEC Delays Another Bitcoin ETF Decision

After a noisy day, cryptos tumbled right as the US equity market closed today following reports that the Securities and Exchange Commission (SEC) has delayed a decision on another proposed bitcoin ETF, pushing its final determination to September 30th 2018.

The entire crypto space was immediately hit lower…

As CoinDesk notes,  the choice to punt forward a final decision also comes days after SEC commissioners completed a review on a proposed bitcoin ETF from investors Cameron and Tyler Winklevoss, whose multi-year effort was dashed after a majority of the SEC’s commissioners backed up the agency’s original March 2017 decision.

And this second delay has pushed Bitcoin back below $7,000 once again…

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Author: Tyler Durden