The Commission on securities and exchange Commission (SEC) has deferred a decision on the registration of five bitcoin exchange-traded Fund (ETF). Messages about it appeared in last Tuesday.
All five applications were filed in January, a company specializing in the management of investments, Direxion Investments. One of the bitcoin ETF will depend on the rate of BTC, and the other four aimed at strengthening the dynamics of the prices for the digital currency. The funds have an ambitious goal — to double the daily course of futures trading on bitcoins.
According to the SEC statement, the decision on approval or disapproval of the registration of these funds takes a long time, since we are talking about changing some rules. In the explanatory note indicate the date a final decision is 21 September 2018.
It is worth noting that many members of the crypto community have great hopes for bitcoin funds. So, the experts of the research company Ironwood Research Group are of the opinion that bitcoin ETF is able to raise the price of cryptocurrencies, in particular bitcoin, and start a new rally. However, there are those who believe approval is unlikely: chief investment strategist at Atlantis Asset Management Michael Kohn (Michael Cohn) believe that registration of any such Fund to SEC — “insanity” and would mean the recognition of cryptocurrency as an asset. For this step, according to Cohn, the government is not yet ready.
Recall that the SEC is also considering an application for registration for a bitcoin ETF filed by Cboe Global Markets. The Fund will be provided by the companies VanEck and SolidX, who previously tried to register a bitcoin Fund, but was refused.
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