This is our weekly blog going through all major news that happened during the previous week. Here are the main news of the week:
Price last week: $7700 US
Price this week: $8100 US, up 5%
The price increased by $400 dollars, a 5% increase in value from the $7700 US of last week. The price continues to rise, potentially on speculation of rumours of a Bitcoin ETF being approved in the next couple months
The Bitcoin ETF proposed by the Winklevoss brothers has been rejected by the Securities Exchange Commission for the second time. The SEC stated that its decision doesn’t constitute a judgment against cryptocurrencies, but it was not in favour of the way the proposal was pitched.
The Winklevoss ETF is not the only ETF that is in the works, the closest ETF to the SEC’s overview is the ETF by investment firm VanEck and SolidX. This ETF applied to the SEC in June and hopes to list the new ETF on the CBOE BZX Equities Exchange. This ETF could be reviewed by September of this year.