New York (CNNMoney) — The first bitcoin auction in the United States has ended.
Bitcoin Cash has been bought at a $3 million valuation by two investors who also bought an interest in the virtual currency, according to a report on the Bitcoin Cash blockchain by CoinDesk.
The Bitcoin Cash sale, the second since March, ended on Wednesday at 11:59 p.m.
(0059 GMT) after the U.S. Securities and Exchange Commission rejected a bid from Bitcoin.
The SEC is expected to approve the deal in the coming days.
The deal came as a surprise as some bitcoin investors have been eyeing an IPO of the cryptocurrency.
Bitcoin has soared more than 1,200% since the first Bitcoin was introduced in 2009.
The price of one Bitcoin, currently worth about $1,000, is trading at $9,200.
The sale was conducted by a group of bitcoin investors called BitShares and backed by the New York-based hedge fund BlackRock, which was previously a partner in Bitcoin.
BlackRock has been among the largest bitcoin investors in the world.
The bitcoin auction is part of a series of “crypto auctions” the SEC is set to approve this month that aim to bring bitcoin prices in line with the cost of other assets.
The SEC is looking at a variety of scenarios to decide whether to approve Bitcoin’s proposed listing on the Nasdaq Stock Market.
The agency previously rejected a listing from a Canadian company that was attempting to buy a stake in the cryptocurrency for more than $1 billion.