August 10 will be a meeting of the Commission on securities and exchange Commission (SEC), where officials will determine the fate of the OTC bitcoin investment Fund VanEck SolidX Bitcoin Trust.
The subject of discussion will be the approval or denial of amendment of the rules of trading at the Chicago Board options exchange (CBOE). The CBOE also intends to issue a bitcoin ETF, the estimated price of which is 25 BTC.
A source in SEC, who wished to remain anonymous, stressed that the Agency is interested in the approval of the application from the CBOE.
“The decision by the bitcoin ETF Winklevoss easy to predict. However, this time, not possibilities. It’s just that it will happen in the last quarter of 2018 or the first quarter of 2019”
An anonymous spokesman for the CBOE also believes that the close relationship between the exchange and the regulatory authorities will have a positive impact on the results of the meeting.
“We remain convinced that the approval of our bitcoin ETF issue has been resolved. It only remains to indicate the period of time and administrative costs”
VanEck SolidX previously and filed a joint application for the establishment of the Fund VanEck SolidX Bitcoin Trust, which will be insured against theft and loss of access to funds.
It will also be linked to the new index from VanEck, who, instead of stock exchanges will be exchanges will collect the price of bitcoin with the US-based over the counter (OTC) platforms.
CEO of Fatfish Internet Group kin-Wai Lau also believes that the regulators will approve the Bitcoin ETF:
“I think the SEC will approve the ETF. Enough to make any respected organization has developed comprehensive tools for monitoring, surveillance and evaluation of liquidity. There are a number of tools that you want to create. Their appearance will be to talk about the readiness of the market. In my opinion, a couple of months this could happen”
However, many community members are confident that the launch of the first bitcoin ETF will not take place until the spring of 2019