The reasons why the SEC denied the request are vague and arbitrary.
https://www.bloomberg.com/news/articles/2017-03-10/sec-rejects-bitcoin-etf-setting-digital-currency-up-for-big-drop
The reasons why the SEC denied the request are vague and arbitrary.
https://www.bloomberg.com/news/articles/2017-03-10/sec-rejects-bitcoin-etf-setting-digital-currency-up-for-big-drop