Connect with us

Hi, what are you looking for?

ELEVENEWS

Sin categoría

SEC Delay VanEck ETF, Crushing Bitcoin Once Again

2018 has seen the production of many ideas for a Bitcoin Exchange Traded Fund (ETF) that could be established to make institutional investment easier for large companies and corporations. The notion of a Bitcoin ETF is that it would make Bitcoin investment more mature and more accessible to big companies, all of whom would no doubt put a lot of money into Bitcoin, should investment be made a little safer for them. This, in essence is exactly what the Bitcoin ETF aims to achieve.

What we have seen through 2018 is a number of applications to open a Bitcoin ETF filed with the United States Securities and Exchange Commission (SEC). These applications have been held for review by the SEC for a number of months, as the SEC cannot decide on the grounds through which they should approve an ETF. This is a heavily unregulated industry and therefore, the SEC don’t have a rule book to refer to, therefore the applications must be reviewed by people, over a long period of time to ensure the SEC don’t mess it up.

The most prominent ETF application currently comes from VanEck, a New York based Investment Management Company who work with institutional investors on a daily basis. Just yesterday, the SEC announced that they would be further delaying the decision for this application, pushing the deadline back to the 27th of February 2019. This is important, given that a final decision was set to be made in August 2018, before being pushed back to the end of Septeember 2018, and then, December 2018.

source:/cryptodaily

Advertisement

You May Also Like

Libra

Ripple CEO Brad Garlinghouse is adamant that Facebook’s unveiling of its Libra cryptocurrency will lead to big business for his banking software and cryptocurrency...

Ripple

When thinking about investing in Ripple (XRP), the digital coin that runs on the Ripple’s payment blockchain system, traders ought to consider what function Ripple might play...

Criptodivisas

(PRLEAP.COM) Superior Coin, a global Cryptocurrency company (www.superior-coin.com), announced today the unique use of it’s blockchain technology in regards to privacy, and security. With...

Ripple

Many of the investors are looking for cryptocurrencies which can actually rise significantly in 2018. Most of the investors are looking at the lesser...

Copyright © 2020 Elevenews