The SEC, which once rejected the proposal for Bitcoin ETF, announces to review the nine fillings again in a letter posted on its website, reported Reuters on August 24.
In the previous time, the organization turned down the petition for Bitcoin’s vulnerability to manipulation and speculative activity. AND one explanation of why the SEC changes its mind is some commissioners are grumpy with this decision. The SEC also explained that it was some delegated staffs in charge of the decision-making process of the case, and this time the Chairman and seniors officers will review the document themselves.
The whole market now is reserving the downward trend after the news came out, and the ratio of btc to usd now stands above $6500