Why Dogecoin Was Tumbling on Thursday
Dogecoin (CRYPTO: DOGE) was no one's idea of a pet cryptocurrency on Thursday. The bellwether meme coin had a rough day on the market and in late afternoon action was trading down by nearly 7% as of 4 p.m. ET. That fall was largely because of a decision -- or rather, something of a non-decision -- by a top regulator.A clutch of crypto news sites reported that the U.S. Securities and Exchange Commission (SEC) has again delayed rendering a decision on approving an exchange-traded fund (ETF), Bitwise Dogecoin ETF. That was part of a general delay affecting other altcoin ETFs that have applied to be publicly traded, namely the Grayscale Hedera Trust and the VanEck Avalanche ETF. Image source: Getty Images.Continue reading
Dogecoin (CRYPTO: DOGE) was no one's idea of a pet cryptocurrency on Thursday. The bellwether meme coin had a rough day on the market and in late afternoon action was trading down by nearly 7% as of 4 p.m. ET. That fall was largely because of a decision -- or rather, something of a non-decision -- by a top regulator.
A clutch of crypto news sites reported that the U.S. Securities and Exchange Commission (SEC) has again delayed rendering a decision on approving an exchange-traded fund (ETF), Bitwise Dogecoin ETF. That was part of a general delay affecting other altcoin ETFs that have applied to be publicly traded, namely the Grayscale Hedera Trust and the VanEck Avalanche ETF.
Image source: Getty Images.
