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RE: The SEC Rejected Bitcoin ETF for the Petition is a Misfit,says Bill Barhydt
SEC reason is simply and stated as follows: bitcoin price is not yet stable, and the market could be manipulated by huge sale and huge buy which affects the price. But my own view is that SEC should consider the ETF may be could help stabilize the price.
It's way to attract a larger amount of capital, but beyond this, it's a way to gain recognition from traditional financial system and put the activity under supervision. In this way, I may say the ETF could help stabilize the price.