{[{item.pair.split("_")[0]}]} ${[{item.price.toFixed(4)}]}
{[{item.change24}]}%
{[{item.change24}]}%
+ Become a member of Interactive Crypto
+ Create a FREE Interactive Crypto Account to Access Premium Content
We’re sorry, but the content you are trying to access is for members only.
CREATE ACCOUNT
August 13, 2019 |
Darryn Pollock | 0 Comments|557 Views
Get Into Cryptocurrency Trading Today
The SEC has stated that three more Bitcoin ETF applications made earlier this year will have to wait as the regulatory body takes its time in making a decision. Bitwise Asset Management, VanEck/SolidX and Wilshire Phoenix filed their applications, with the former two already been delayed.
Bitcoin ETFs have been a hot topic for some time now but the SEC is yet to make a decisive call having denied all other applications that have come across its desk. This goes back to 2017 when the Winklevoss twins made an application.
The filings were published in the Federal Register in February and June, kicking off the legally-mandated 240-day clock on a final decision, this means final decisions on the Bitwise and VanEck/SolidX proposals are expected by Oct. 13 and Oct. 18, respectively. The next decision on the Wilshire Phoenix proposal is scheduled to occur by Sept. 29.
It was in 2016 that the first attempts at launching a Bitcoin ETF began as Bats BZX Exchange filed a proposed rule change with the SEC, which would have permitted it to list and trade shares of the Winklevoss Bitcoin Trust.
The hope back then, as it still is today, was to hopefully open the doors to traditional investors as an ETF is a type of security that tracks a basket of assets proportionately represented in the fund’s shares which are used across traditional markets.
An ETF would essentially allow for these investors to get exposure to Bitcoin, but without having to actually own it, by passing some of the sticking points for people suspicious of the cryptocurrency environment.
Still, the SEC claimed back then that the markets were still too manipulable, volatile and resistant to surveillance. That has been its stadpoint throughout as a number of other applications have been shot down in the past.
While the SEC maintains that the Bitcoin market is still not ready for an ETF, these latest applications have tried to alleviate the fears of the regulators maintaining that the Bitcoin market has matured remarkably quickly.
Bitwise, for example, has been publishing reports indicating that the actual bitcoin market is smaller, more regulated and much better surveilled than expected, and that it trades tightly with CME’s futures market.
Futures, which were launched in December 2017, have been relatively successful and have felt no ill effects of being part of the Bitcoin market despite being an institutional investment product, and this is one of the key points for an ETF.
However, there are still notable concerns in the Bitcoin market that even Bitwise agree needs cleaning up, such as wash trading, and the scourge of fake trading volumes which can heavily affect the minds of investors.
Many believe that not only will BitcoinETFs open the doors to a bevy of new institutional traders and their money, it will also put a big regulatory stamp of approval on the Bitcoin market as the SEC will inadvertently put its support behind the digital currency.
The SEC has appreciated Bitcoin's role, and has not classed it as a security, unlike many other ICOs, but that has still not been enough for the SEC to get fully involved in granting an ETF application.
All COINS
TRENDING
WATCHLIST
Market Cap {[{ marketcap }]}
Symbol
Price
Change
Chart
Trade
{[{ item.pair.split('_')[0] }]}
${[{ item.price }]}
{[{ item.change24 }]}
{[{ item.change24 }]}
Market Cap {[{ marketcap }]}
Symbol
Price
Change
Chart
Trade
{[{ item.pair.split('_')[0] }]}
${[{ item.price }]}
{[{ item.change24 }]}
{[{ item.change24 }]}
SEC delays Three more Bitcoin ETF Applications
The SEC has stated that three more Bitcoin ETF applications made earlier this year will have to...
Reddit is Ready to Reinstate Bitcoin Payment
From 2009 to the present, we can only see how much Bitcoin and other crypto-currencies have...
Bitcoin is famous among everyone but criminals
Using Bitcoins for illegal transactions was sadly a trend a few years ago, but it’s actually a...
Reading Ethereum Original Whitepaper
Not everyone finds joy in reading crypto whitepapers. The first turn off is the length. Most...
Rabobank Unveils Their Cryptocurrency Wallet Service
Around the world, major banks and financial institutions have been writing an exacerbated...
1 DOGE to USD | What is Dogecoin, Exchange Rates?
Dogecoin (DOGE) is, according to the official website, a decentralized and “open-source...
Plus500
Risk warning: 80.5% of retail investor accounts lose money when trading CFDs with this...
EOS Price Soars by 30% as eosDAC Release Date Approaches
While cryptocurrencies have seen a severe slump in their values during last few months, against...
Best 10 Cryptos to Invest in 2020
Investing in crypto takes time. Besides being a new medium of exchange, several coins available...
Free & Fast BTC Mining
The more Bitcoin becomes popular, the more miners it attracts. Mining the coin comes with...
What Are the Disadvantages of Bitcoin?
Does Apple accept Bitcoin?
Can I buy house with Bitcoin?
Can I transfer Bitcoin to my bank account?
What companies use cryptocurrencies?
Is Ripple The Cryptocurrency of 2018? - In Depth Review of Ripple XRP
What Is Ripple? / DefinitionRipple is a name for a cryptocurrency denoted by Ripple XRP and it's als...
Is IOTA Going to Overtake Bitcoin and Other Cryptocurrencies? - IOTA (MIOTA)Review
Verge Review
Binance Review
Dogecoin Review
LegacyFX
Many forms of cryptocurrency and altcoin trading are available in today’s financial markets. A...
Excentral
Risk warning: CFDs are complex financial products. They have a speculative character. Trading in...
EagleFX
EagleFX is one of the latest forex trading brokerages to join the sector. It got founded back in...
Vantagefx
VantageFX is a leading Australian forex broker that specializes in ensuring the complete and ful...
Xtrade
Xtrade is one of the most popular financial trading sites in the world. Started over a decade ago, t...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Cryptopay.me
Updated, Apr 04, 2020 Cryptopay is a revolution for Bitcoin users. This platform offers its custo...
Mycelium
MyCelium is an application for Mobile that offers many possibilities of security and confidentiality...
COMMENTS
0 Comments
Like this article