Commission United States securities and exchange Commission (SEC) has postponed deciding whether to approve five bitcoin-related exchange-traded funds (ETFs) until September.
In the latest issue of the Federal Register, the SEC stated that they will postpone a decision on bitcoin ETF from Direxion Investments that have been sent to the Commission in January – one of which is directly linked to the price of bitcoin, and four are based on price movements of the cryptocurrency.
The Commission considered it appropriate to extend the period for making positive or negative decisions. Accordingly, the Commission … … shall designate September 21, 2018 as the date when the Commission will either approve or reject the proposal.
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Despite the fact that the cryptocurrency community looks forward to the emergence of the bitcoin ETF, chief investment strategist at Atlantis Asset Management Michael Kon said that any approval of the SEC of any of the proposed ETFs would be “madness”.
They will put a stamp on this asset. But it’s absolutely not something I would recommend to their clients in any form.
It is noteworthy that the decision on any of the proposals on the bitcoin ETF from VanEck, and SolidX not deposited and the decision thereon may be taken in the next month.