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The SEC just dashed the Winkelvoss twins’ bitcoin dreams

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The Winklevoss twins lost out on Facebook, and now they’ve lost out on bitcoin. 

The Securities and Exchange Commission on Friday denied an application from brothers Cameron and Tyler Winklevoss — depicted by Armie Hammer in The Social Network — to create an exchange-traded fund for bitcoin. 

An ETF would track the price of bitcoin and make investing in the cryptocurrency more attractive to Wall Street. For weeks ahead of the SEC decision, the price of bitcoin soared on the expectation that major Wall Street interest could be ahead. At one point, one bitcoin was worth more than an ounce of gold.  Read more…

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