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Today we got a lot of news about rejection of ETF approval by SEC. So I decided to search on this thing then I got this below news which created FUD in the market which took BTC to $7800 Level. But after some research I found that  this news is completely fake and was spread as it got published on some main Crypto News Websites. 

This news made panic sellers to sell their assets but Bitcoin bounced from $7800 support which is a very good sign as bull fight well here to hold the support. As i said in my last blog post Bitcoin was at breakout region and was going to make some move. Due to this Fud BTC broke in downward direction making some correction But it is still in good condition as it hold 7800 level.

I am sharing both the news link of this FUD and also the link where I found the Right Information about this. So Do read that and don't sell your assets without researching on any news. 

#### Thank You.

### Winklevoss Twins Bitcoin ETF Application Rejected by SEC

##### Link : https://cointelegraph.com/news/cnbc-winklevoss-twins-bitcoin-etf-application-rejected-by-sec


The U.S. Securities and Exchange Commission (SEC) has rejected the application for a Bitcoin exchange-traded fund by brothers Tyler and Cameron Winklevoss, according to a release published by the SEC Thursday, July 26.

Bats BZX Exchange, Inc. (BZX) filed a proposed rule change with the SEC to allow it to list and trade shares of the Winklevoss Bitcoin Trust in 2016. This first application for a Bitcoin ETF by the Winklevoss twins’ was rejected by the SEC in March 2017. The stated reason being the largely unregulated nature of Bitcoin (BTC) markets. The agency said then:

”When the spot market is unregulated--there must be significant, regulated derivatives markets related to the underlying asset with which the Exchange can enter into a surveillance-sharing agreement.”

Following the disapproval of the initial proposition, the group filed “a timely petition seeking Commission review of the disapproval by delegated authority.”

The SEC published a new release Thursday, July 26, rejecting the petition. Regarding the Winklevoss’ claim that crypto markets are “uniquely resistant to manipulation,” the agency said that “the record before the Commission does not support such a conclusion.”

The SEC further emphasized that their rejection of the petition did not hinge on whether cryptocurrencies or blockchain technology “[have] utility or value as an innovation or an investment.” The Commission continued:

“Rather, the Commission is disapproving this proposed rule change because... BZX 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 the Exchange Act... in particular the requirement that its rules be designed to prevent fraudulent and manipulative acts and practices.”

The Commission stated its concern that a significant portion of Bitcoin trading happens on “unregulated exchanges outside the United States,” in addition to qualms over low liquidity.

Despite receiving requests for a Bitcoin ETF approval from a number of applicants, the SEC has still not accepted any of them as of press time.


### ETF is NOT rejected - This news is complete FUD to drop the price before august. CNBC Manipulating the market.

Link :https://www.reddit.com/r/CryptoCurrency/comments/926abg/etf_is_not_rejected_this_news_is_complete_fud_to/