On February 20, the website of the US Federal Register was published VanEck and SolidX’s offer to launch a bitcoin ETF submitted to the Chicago exchange CBOE.
After the official entry appears, the Securities and Exchange Commission is obliged to make a final decision on the application no later than 90 days later. Previously, CBOE withdrew proposal to launch a cryptocurrency exchange-traded fund due to the government crisis and the unstable operation of the SEC to avoid automatic rejection. VanEck representatives actively cooperate with the regulator and other market participants to comply with the established standards.
At the moment, the American regulator is working on two applications for Bitcoin-ETF, since the official request from NYSE Arca began on February 15 with the proposal of a new instrument from Bitwise Asset Management.
Matt Hougan, head of research at Bitwise, says the rapid development of the crypto industry may be welcome. According to him, a year ago there was only one qualified company providing services related to virtual currencies, now there are dozens of them and such financial giants as Fidelity are starting to enter this space..
However, the experts focus on the fact that the decision regarding the applications under consideration will be made not on the basis of the market infrastructure, but depending on the compliance of the applicants with the established requirements..
SEC Bitcoin ETF Feb 2019 – Congress Crypto Laws – Binance Institutional – Morgan Creek Digital Bet
As a reminder, Nasdaq adds bitcoin and ethereum tracking indices to its global intelligence service on February 25.
text: Ivan Malichenko, photo: Shutterstock