the Bitcoin ETF will initially not be approved. Because the U.S. stock exchange supervision authority, the SEC decided on 7. December, to postpone its final decision Once again. According to information from the Securities and Exchange Commission is whether the security for investors, as before, not sure – they wanted to weigh prior to any approval or rejection.
By Phillip Horch
On 7. December 2018 share Facebook Twitter LinkedIn xing mail
When the Bitcoin ETF? the new When Lambo seems? to be of Parts for the crypto-Community. The expectations of the Exchange-Traded Funds are accordingly high. In the case of any authorisation, a well-known Narrative behind the exchange-traded Fund should suggest more security for potential investors. If it is approved, the U.S. stock exchange supervision authority, the idea behind it, it would have to be a (more or less) safe.
the SEC needs more time
In terms of admission of Exchange-Traded Funds for the mother of all crypto-currency, the SEC decided to push the decision a little to the rear. In its official communication, it, therefore, means that the authority need a little more time to make the right decision.
The CBOE had at 20. June 2018, a request to Change a law from the year 1936, in order to reach in the course of which an authorisation of the SolidX Bitcoin Shares, respectively, for the VanEck SolidX Bitcoin ETF. On 2. In July, the SEC the application, and gave citizens the opportunity to have their comments on the subject. As you can see from the communication from the authority, they reached up to and including 6. In December, a total of more than 1,600 comments. The final decision is now to at the latest on 27. February 2019 fall.
Jay Clayton expressed concerns
Recently it was said by VanEcks that it was a approval of the Bitcoin ETF as close as never before – in the catalogue of demands of the authority was in the eyes of the company as a met. Nevertheless, Jay Clayton, the Chairman of the SEC, its concerns in relation to an authorisation-to-speech. In the eyes of Clayton’s currencies such as Bitcoin are not Cryptographic in tamper-proof, so you could not, without hesitation, to approve:
“What investors expect is that the trading [ … ] underlying the ETF is a useful trade, the free […] of the significant risk of Manipulation. This kind of protection measures does not exist in many of the markets where digital currencies are traded.“
Now, the various Exchanges due to the postponement of the decision so a little time to take these security measures. If you, however, to 27. February 2019 to create, remains questionable.
