October 10, 2019 SEC rejects Bitwise ETF proposal.

The order found that the ETF proposal, filed by Bitwise and NYSE Arca, did not meet legal requirements to prevent market manipulation. Bitwise previously published a report arguing that 95% of reported Bitcoin trading volume was fraudulent, but that the remainder was a suitable, efficient basis for an ETF. This announcement follows a series of Bitcoin ETF rejections, including those from VanEck, SolidX, and CBOE.