Bitcoin’s (BTC) bullish sentiment received a minor setback on Nov. 12 after the Securities and Exchange Commission (SEC) rejected VanEck’s Bitcoin exchange-traded product that would have tracked Bitcoin’s spot price.
However, this negative development was followed by the successful activation of the Taproot soft fork on Nov. 13. Bitcoin developer Hampus Sjöberg, who runs a Taproot dedicated website, told Cointelegraph that the “greatest win” was that Taproot showed that Bitcoin could do network upgrades and that was important for the longevity of the network.