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The US Securities and Exchange Commission has dismissed Bitwise’s new bitcoin Exchange-Traded Fund proposal.Global Exchange.

Bitwise Asset Management registered the latest ETF program in association with NYSE Arca stock exchange.

The SEC stated the proposal did not satisfy legitimate conditions to prevent illegal activities in markets.Due to illicit undertakings and manipulation by markets, the SEC has turned down all proposals of bitcoin ETF so far.The order stated, “The Commission is disapproving this proposed rule change because, as discussed below, NYSE Arca has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act Section 6(b)(5), and, in particular, the requirement that the rules of a national securities exchange be ‘designed to prevent fraudulent and manipulative acts and practices.

'”According to cryptonews, Bitwise was the first company to introduce an ETF in the US along with VanEck, an investment management firm.

The latter had filed an analogous proposal with the companies Cboe BZX and SolidX.

VanEck took out its report in September.Bitwise attempted to convince the regulatory body that concerns about deceitful activities could be discussed.

Bitcoin owners are surely happy with the bank in spite of the high pressure of buying that has been noted latterly in the world of the flagship market of crypto.

The bitcoin holders' number in profit has become a high record as per the data that has been retrieved by a knowledge crypto analytic firm which has been shown recently.

Previously the record of 98.055% was noted, but now it has increased to 98.079% which surely is a notable rise.

The trading of bitcoin was done was $15,517.62 in the last 24 hours, which has noted a trading volume of nearly $30,751,814,626.

The price of BTC has fallen -0.3% in the last 24 hours.

This seems to be a circulating supply of nearly 19 million coins with the collection of a maximum of 21 million coins.

Bitcoin halving is the verge.

Catchup latest cryptonews about bitcoin halving to understand investment strategy.

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Presently, satoshi the smallest Bitcoin unit, or it can be referred to as 0.00000001 Bitcoin.Bitcoin is one of the most popular cryptocurrency worldwide.

It can also be used for purchasing goods that accept bitcoin payments.

And also it can be exchanged to both the traditional as well as digital currencies, with the help of cryptocurrency exchange platforms like Koin Bazar, Binance, Paxful, etc.

With the help of Bitcoin, you can use it for illegal purposes like buying illegal drugs from the dark marketplace.There are many benefits of using bitcoins but the main advantage is that it has over traditional banks is the fact which allows international payments to go through without the worry of currency conversions.Benefits of having a Bitcoin (BTC):Moreover, Bitcoin has many benefits but here we going to look at the major benefits of bitcoin.Low Transaction Fee:The transaction fee for Bitcoin payments is very low when compared to credit and debit card payments.

Nobody could freeze your assets.Ecosystem is Safe:Every Bitcoin wallet transaction is signed by the authenticated digital signature before it's sent to the blockchain.

Inflation occurs when the Government proceeds more money over the year while decreasing the purchase by the people.

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New York-based exchange-traded fund (ETF) supplier, Global X, has joined the steadily developing rundown of bitcoin ETF possibilities with another recording with the U.S. Securities  Exchange Commission (SEC).

On July 23, The ETF came up with the news to hold bitcoin to accomplish its venture objective of being an intermediary at the BTC cost in dollars, short working costs.

Exchange On the Cboe BZX Exchange  Whenever endorsed, the Global X Bitcoin Trust will give every day offers for exchange on the Cboe BZX Exchange under a ticker image to be reported just before it begins exchanging.

Nonetheless, the report didn't determine which organizations will be the trustee and the trustee's bitcoin caretaker.

Like Grayscale's as of late declared procedure for their bitcoin item, GBTC, the Bank of New York Mellon (BNY Mellon) would likewise help Global X regulate its ETF.

BNY will furnish Global X with bookkeeping, charge, and monetary detailing for the upkeep and activities of the Trust.