[Daily Discussion] Tuesday, December 11, 2018

ETF: ( translated )

Decision bitcoin ETF postponed until February

The US Securities and Exchange Commission (SEC) has again postponed its decision on a Bitcoin (BTC) exchange-traded fund (ETF). The SEC reports this on its website.

Nothing special

This was in line with expectations. Every request that arrives at the SEC has a soft and a hard deadline. The hard deadline, or the maximum cooling-off period that the authority can take for this, is 240 days.

The proposed ETF comes from VanEck and SolidX and was submitted on 2 July 2018. Add to that 240 days, and you will reach 27 February 2019. The soft deadline was 29 December.

The two companies want to add a bitcoin ETF to the Chicago Board Options Exchange (CBOE).

The SEC itself says: "The Commission considers it appropriate to maintain a longer period to approve or reject the change."

Bitcoin similar to gold and crude oil

Last week the SEC spoke with representatives from VanEck, SolidX and CBOE. They talked about the Bitcoin ETF and that it is comparable to ETFs of raw materials such as gold and crude oil.

Investment company VanEck often comes in the cryony news. For example, they are developing trade products with the Nasdaq stock exchange.

Recently, SEC commissioner Hester Peirce, who is positive about crypto, claims that a Bitcoin ETF can be approved tomorrow, but also in 20 years.

/r/BitcoinMarkets Thread