# Bitcoin etf

`kaal:entity:bitcoin-etf`

**Status.** derived

This node is assembled mechanically from the 4 claims that carry the concept tag `bitcoin-etf`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

4 claims across 3 works, 2017 to 2019.

**2017**

- [2998033-012](https://wulfkaal.github.io/claims/2998033-012) [empirical/argued] -- The SEC's denial of the Winklevoss Bitcoin exchange traded fund on grounds of susceptibility to fraud reflects the agency's distrust of the crypto asset class as a whole, and especially of funds that trade digital currencies.
  > The SEC's decision regarding the Bitcoin ETF reflects its distrust towards the crypto asset class as a whole, especially funds attempting to trade digital currencies.
  Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033
- [2998033-013](https://wulfkaal.github.io/claims/2998033-013) [condition/argued] -- The SEC's reasoning against the Bitcoin exchange traded fund does not transfer to blockchain based private investment funds, because such funds trade a diverse array of cryptocurrencies rather than Bitcoin alone and reach a much narrower investor audience, which curtails investor risk.
  > Most importantly, private investment funds on Melonport would be actively trading a more diverse array of cryto- currencies, not just Bitcoin. Moreover, the audience of a Melonport-type fund is much more limited and curtails the risk to investors.
  Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033
- [3002908-012](https://wulfkaal.github.io/claims/3002908-012) [empirical/evidenced] -- The SEC rejected the Winklevoss Bitcoin ETF application on the ground that the unregulated nature of Bitcoin made the proposed fund susceptible to fraud.
  > In rejecting the application, the SEC reasoned that, because of the unregulated nature of Bitcoin, the proposed fund was susceptible to fraud.
  Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908

**2019**

- [3411110-028](https://wulfkaal.github.io/claims/3411110-028) [empirical/evidenced] -- The SEC's rejection of the Winklevoss Bitcoin ETF, reasoned on Bitcoin's unregulated nature and susceptibility to fraud, reflects agency distrust of the crypto asset class as a whole rather than a narrow product objection.
  > The SEC's decision regarding the Bitcoin ETF reflects its distrust towards the crypto asset class as a whole, especially funds attempting to trade digital currencies.
  Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/bitcoin-etf.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.