After the decision on prolongation of term of consideration of the joint application for the creation of a bitcoin ETF from VanEck SolidX companies and the market responded by a sharp drop to minimum marks of 2018. However, representatives of the Chicago Board options exchange (CBOE) and the above firms were not disappointed and still believe in a positive outcome, according to The ICO-Journal, citing informed sources.
“It was expected, and markets reacted irrationally. The review of each such application shall always be extended. It was all expected and we are sure 99% that the bitcoin ETF will approve of”, — wrote in an email to the CBOE employee on condition of anonymity.
Team VanEck, according to the publication, was not surprised and was expecting this decision. However, the company refused to identify the exact terms that are included in the business plans.
“We are confident that our bid is the strongest of all the submitted for consideration by the US regulators. We believe that it will justify itself”, — said a source in VanEck.
A former official of the Commission on securities and exchange Commission (SEC), who now works in the private sector, discussed the issue with former colleagues, still in their role. He said the ICO-Journal that they all confirm that the bitcoin ETF from VanEck, and SolidX is approved, however, the SEC intends to show the market and investors that the regulator is studying a new class of assets in the smallest details.
Recall, CEO of Pantera Capital Dan Morad said that investors should rejoice the upcoming launch of global trading platform Bakkt from the Corporation, Intercontinental Exchange, and not to panic due to the extension of terms of consideration of exchange trading funds on the basis of bitcoin.