SEC To Review Decision Denying Bitcoin Market Listing

The U.S. Securities and Exchange Commission will reconsider a request to list what could be first U.S. exchange-traded fund designed to track bitcoin, the so-called cryptocurrency, Reuters reported.

Bitcoin Price Soars

The price of one bitcoin (1 BTC) was up 22.2 percent to $1,281.79.

The SEC in March initially derailed an attempt by investors Cameron and Tyler Winklevoss to let it bring the Bitcoin ETF to market. CBOE Holdings Inc's Bats BZX Exchange, Inc. exchange had applied to list the ETF.

“The petition of BZX for review of the Division’s action to disapprove the proposed rule change by delegated authority be granted; and It is further ordered that any party or other person may file a statement in support of or in opposition to the action made pursuant to delegated authority on or before May 15, 2017,” the SEC said.

The Winklevoss twins, former U.S. Olympic rowers, are best known for their lawsuit claiming Facebook Inc FB founder Mark Zuckerberg poached their idea for the social network. They settled their dispute, which was dramatized in the 2010 movie “The Social Network.”

They have been trying for nearly four years to get the so-called virtual currency listed. Bitcoin is a digital and global currency that can be exchanged without being linked to a real identity. The mathematical field of cryptography is the basis for its security.

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