SEC ETF Rejections Cause Minor Turbulence, Crypto Companies Weren’t Enthusiastic

The SEC announced a decision on Wednesday to reject nine proposed exchange-traded funds based on from three companies.

Five of these proposals came from Direxion—a company that specializes in alternative mutual funds and ETFs in general. Another two came from GraniteShares and the remaining two came from ProShare.

In an email to Cryptovest, eToro senior market analyst Mati Greenspan seemed not at all shocked at these rejections.

“It was largely apparent going into this that few people really expected these proposals to go through anyway,” he said.

He also pointed out the fact that the Bitcoin market witnessed some notable volatility when the announcement was made, which correspon…

This article appeared first on Cryptovest

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