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Monday, 24 February 18:34 (GMT -05:00)



Foreign exchange market

Bitcoin ETF Decision is Delayed by SEC


The SEC, the USA's chief financial regulator, decided to delay the Bitcoin ETF decision once again. If the ETF had received the green light, we would now see it trading on CBOE and NYSE Arca. However, the Securities and Exchange Commission decided to put on hold the decision on three ETFs: VanEck / SolidX (CBOE), Wilshire Phoenix, and Bitwise Asset Management (both related to NYSE Arca).
 
The most expected request was put forward by VanEck / SolidX but then canceled by the requesters more than 4 weeks before the SEC's decision deadline. Later on they put forward another request for VanEck / SolidX
 
With that being said, the regulator has 240 days to process requests. This means that the deadlines for VanEck / SolidX and Bitwise are October 13th and 18th respectively. For Wilishire Phoenix, this is September 29th.
 
So, the SEC hasn't still authorized anyone to trade Bitcoin ETFs. The main concern for the commission is the possibility of market manipulations, including fake trading volumes amid the fact that today's cryptocurrency markets cannot boast increased liquidity.  
 
Once again, international traders and investors have been laying the biggest hopes for VanEck / SolidX quoted on CBOE because of its nature. In the meantime, more and more market observers are supporting the idea of legalizing  BTC ETFs in order to stimulate the demand.

 

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