US regulators reject Bitcoin ETF

Investors Cameron and Tyler Winklevoss have been trying for more than 3 years to convince the SEC

The US Securities and Exchange Commission denied a request to list what would have been the first US exchange-traded fund built to track bitcoin, the digital currency. Investors Cameron and Tyler Winklevoss have been trying for more than three years to convince the SEC to let it bring the Bitcoin ETF to market. CBOE Holdings’s Bats exchange had applied to list the ETF.

The digital currency’s price plunged, falling as much as 18 per cent in trading immediately after the decision before rebounding slightly. It last traded down 7.8 per cent to $1,098. Bitcoin had scaled to a record of nearly