Bitcoin takes dive below $7000 after watchdog steps in on ETF listing
Bitcoin’s sunnier summer came to a shuddering halt today as a Wall Street wobble sent its price crashing below $7000 (£5405).
The world’s best-known cryptocurrency had enjoyed a strong July but fell $647 to $6469.
Investors were shaken by news that America’s top regulator, the Securities and Exchange Commission, had delayed a crucial decision on the listing of a bitcoin exchange-traded fund.
The regulator has been inundated since seeking opinions on the listing of SolidX on the Cboe’s Global Markets’ BZX exchange.
The decision had been highly anticipated after bitcoin billionaires the Winklevoss twins lost a battle to list a similar ETF.
The US rowers and entrepreneurs, who sued Facebook founder Mark Zuckerberg, were told they couldn’t list and trade shares in their currency fund, the Winklevoss Bitcoin Trust.
Investors in cryptocurrencies have had a rocky year. Bitcoin, its flagbearer, hit a peak of $18,571 just before Christmas but quickly more than halved in value before steadily falling.
