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Bitcoin: SEC checked 9 Bitcoin-ETF-choices

Bitcoin: SEC checked 9 Bitcoin-ETF-choices

Home News Bitcoin: SEC checked 9 Bitcoin-ETF-choices

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Marcel Knobloch –
06.10.2018

The approval of a Bitcoin ETF’s is seen in the crypto scene as a Holy Grail for the entry of fresh capital in the market and hence rising prices. The SEC had set up for some ETF’s, a period until the end of October. Currently, some of the decisions on the part of the SEC are examined on their merits.

The Securities and Exchange Commission (SEC) had set a deadline for the Review of proposed rule changes that would allow some of the crypto-currency stock exchange operators, Bitcoin ETF products on their platforms.

In various documents of the SEC, the on 04. October were released, showing that the SEC has begun to review the possible approval of the Bitcoin ETF applications of ProShares, Direxion and granite shares. The applicant wanted to make a note of your products on the NYSE Arca or the CBOE BZX.

The Review process was amended by the SEC, so that the Fund contain the information to be subsequently transmitted by the stock exchange operators to the Agency. Accordingly, the Public is granted a period of extension and the possibility of explanations for the rejection or support to submit.

After this period, the SEC will examine all the documents again and make a final decision. For the time being, the current decisions remain in force.

The SEC rejected in August, many Bitcoin-ETF-applications and destroyed the hopes of many private investors, that this Fund may soon be a regulated investment exchange traded.

Surprisingly, the SEC announced a day later that you will consider the judgments of their own employees is fundamental. SEC Commissioner Hester Peirce was a strong supporter of publicly traded crypto-currency products and criticized the decisions of the SEC to be sharp.

Another Bitoin-ETF’s were set in the great hopes, was the product of VanEck and SolidX. The judgment of this motion was, however, postponed to a Zeithoriont of at least the beginning of December. Many experts predict that the approval of a Bitcoin ETF is probably only in the first quarter of the year 2019 is likely.

The next weeks will show if the SEC rejects your judgment indeed, and one of the applications lodged.

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