My tin foil hat theory on why the United States (insert appropriate federal agency here) kicked back the initial BlackRock and Coinbase spot Bitcoin exchange-traded fund filing request:

The theory is simple really, the powers that be at the (insert appropriate federal agency here) just didn't want to come off as being controlled by BlackRock and company, which they most certainly are, so they probably told them at one of their good old boy meetings prior to the filing, that they were going to kick it back the first go, just to appear as if they were in control, when in reality... it's the total opposite.

That's basically the gist of my tin foil hat wearing theory, and after being alive for so many years, and seeing so many games be played in the world, especially within the corporate finance and government regulation world, or in the political arena, which let's be real, is what this all basically boils down to, for me not to believe that everything that is done these days is the result of some cold hard slash shady premeditated plan in some proverbial backroom somewhere in the world.

Please let me know what you think about my little conspiracy theory, and please, have yourself a totally awesome and safe Happy Fourth of July, thank you.