Not good news for the long-awaited ETF from VanECK, and SolidX. The stock exchange on which the ETF to be offered, it would be Cboe BZX Exchange, announced yesterday that they have proposed have been drawn.
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Of the delay is the right setting
According to an official announcement (in the SEC), yesterday, 17th of september, the proposal is actually on the 13th of september, is withdrawn. The SEC (Securities and Exchange Commission), the decision to proceed with the ETF proposal, or to reject the often delayed, which may just be. However, there is a deadline by which the SEC must determine, and which was rapidly approaching. The deadline was that on the 18th of October. A large part of the cryptogemeenschap looked at here, because this is the first time you should be able to be in the United States, a bitcoin ETF is offered it ought to be.
The executive director of the VanEck tweette on the subject:
We are committed to support Bitcoin and the Bitcoin-focused financial innovation. Bringing to market a physical, liquid, and insured ETF remains a top priority. We will continue to work closely with regulators, market participants to get one step closer every day. https://t.co/bDYiSbTRVl
— Try and aim for Gurbacs (@gaborgurbacs) September 17, 2019
But what are you going to make? What is the reason for the ETF’s have to be cancelled? That’s it for now, still a mystery, but what we do know is that this news is only a few weeks after VanEck, and SolidX, shares began to be offered. At least, these are the shares of the VanEck SolidX Bitcoin Trust, and which have been available only to large institutional investors. That is, as yet, no success in the first three weeks, and it is only up to the value of 4 to bitcoin being traded.
In fact, this is the second time VanEck, and SolidX, a proposal for an ETF to have been revoked. The same proposal went in January, though, but that was due to the government shutdown. At this time, public authorities have largely been shut down because the fiscal year had ended, and there’s still no new budget has been approved. The SEC was one of those representing government agencies.
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There are two other etfs
There are two other bitcoin ETF, proposals on the board for the SEC. The first one, presented by This Site would be in both bitcoin and US Treasury bonds would be combined. The next application deadline is at the end of september. The other proposal comes from the Bitwise Asset Management, it would be the ETF on the NYSE Arca, the SEC decided to be here on the 13th of October, all over.
The bitcoin price has so far not commented on the news. The price is somewhat decreased, but that’s probably because a lot of trading it for altcoins.
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