Reality Shares the company confirmed a review of its application for a rule change in the exchange NYSE Arca, which, if approved, would allow it to launch exchange-traded Fund (ETF) with partial access to the futures on bitcoin. It is reported by CoinDesk.
The decision was made just a few days after the filing with the Commission on securities and exchange Commission (SEC) after the Agency contacted the company proposing to withdraw the application.
It was assumed that Global Currency Strategy ETF will provide access “to Vietnam and the widespread use of virtual currencies”.
“I can confirm that we withdrew the application as the Department continues to believe that, in accordance with the Law on investment companies of 1940 registration of the funds with access to cryptocurrencies at the moment is inappropriate”, — commented the decision the company lawyer.
He also noted that the law on investment companies would receive automatic approval after the lapse of 75 days, and it is this fact that forced the SEC to contact the company.
We will remind, in January of created Reality Shares ETF linked to the market of the blockchain and traded on the Nasdaq stock market.