The Commission on securities and exchange Commission (SEC) again postpones the decision on the application for opening a Bitcoin exchange-traded funds (ETF) of exchange CBOE. The verdict of the SEC will be made no earlier than February 2019!
Communication from the Commission States the following: "Terminate the procedure for opening a Bitcoin ETF in time is not possible due to legal barriers. Members of the Commission has failed to reach a consensus on this issue".
In July 2018, the SEC rejected the application for opening a Bitcoin ETF from the owners of the cryptocurrency exchanges Gemini brothers Winklevoss. In August the same fate befell 9 cryptocurrency exchange-traded funds from companies ProShares, Direxion and GraniteShares. However, on August 23, the Commission stated that the denial will be reviewed in 2018.
According to the official point of view, the SEC rejected the application due to concerns related to the manipulation Bitcoin. Guide exchange CBOE radically disagreed with the opinion of the SEC, stating that the BTC market is susceptible to manipulation to a lesser extent than stock trading and futures contracts.
ETF from stock exchange CBOE will allow investors to buy Baskets for the price of 100 BTC, then they can be traded on the platform of the CBOE. The "basket" will be provided with coins Bitcointhat is stored in a trust Fund Vaneck SolidX.