It is that history is repeating itself, but with the united states Securities and Exchange Commission (“SEC”) has, once again, a publicly traded bitcoin ETF is temporarily brought to a stop.
As a continuation of the trend, as the european commission has for several INDEX proposals, you have been able to slow it down, or simply be rejected.
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Bitcoin ETF This Phoenix
Indeed, were it not for the the This for Phoenix INDEX.
In contrast to the prior ETF proposals, which is just bitcoin, such as that of the VanEck SolidX – that is more delayed, involves the This Phoenix INDEX in both bitcoin and U.s. government bonds.
U.s. government bonds may be one of the most common investment vehicles are called.
In the mind of the applicant is the record of the government, as a part of a bitcoin ETF will give the product might be more stable. We hope that in doing so, the chances of approval will increase.
It seems, however, that the SEC will remain in doubt.
Of the delay is the right setting
The This Phoenix, ETF’s, however, has not yet been rejected, but only postponed. Approval (for the future), it is still not final, of course.
The SEC, however, needs to approve some of the rules are changing. So far, the beurswaakhond are two reasons why an INDEX is not easy to accept: the manipulation of the bitcoin price, by white’s trading and cryptobeheer.
This Phoenix has been waiting for since last may, on a decision by the SEC.
Also, Bitwise, Asset Management is still waiting for approval of its proposed Bitcoin ETF. A final deadline for this is mid October and in the planning stages.
The company’s reports filed with the SEC in an effort to get the supervisor to ensure that the bitcoin market is mature enough for this type of product to be able to support.
VanEck SolidX
SEC chair: Jay Clayton has just that, although, the bitcoin market steps in the right direction, more needs to be done before starting a bitcoin ETF will really be approved.
VanEck and SolidX, who was also in mid-October, with a deadline, known for their bitcoin ETF, passed earlier this month that their joint bitcoin ETF proposal.
Director, Digital Asset Strategies for VanEck, try and aim for Gurbacs, he said that it is “a top priority continues to be like this, to bring up,” although it is not indicated whether the companies in the ETF proposal for the third time, please.
VanEck Securities and SolidX, Management has announced, however, is a more limited option. Large financial institutions such as hedge funds, and banks since the beginning of the month to purchase shares in the VanEck SolidX Bitcoin Trust.
It provides for a specific exemption in the regulations, due to the fact that small investors would not be able to participate in the activities.
But for now, the trust will not be a popular option in bitcoin is an investment, so it turned out to be a spotlight.
Source: SEC
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