The financial regulator will consider a few more applications for registration of exchange-traded investment funds focused on the first cryptocurrency. The US securities and exchange Commission (SEC) has postponed the decision on the launch of bitcoin-ETF by Direxion Investments (securities that are traded on the exchange, their value is tied to a certain index). The press service of the regulator noted that it had extended the period during which it would consider new rules to more closely examine the issue. The agency postponed the decision on five bitcoin-ETF, it received only two comments on them. At the same time, the New York investment fund VanEck Associates sent a letter to the SEC, which describes why the digital money market is ready to work with cryptocurrency ETF. The document reports that access to bitcoin through a regulated investment product will be safe for users and will support the development of the market. The report of the Commission on securities and stock exchanges of the USA did not mention VanEck and Solidx’s applications. In June, they filed a joint application for bitcoin-ETF, insured against theft and loss of access to funds. It is tied to the new index of the New York investment fund, which will be the price of the first cryptocurrency from American OTC platforms. This application received more than 100 comments, the decision on it can be made in August 2018. The decision is likely to be positive, but it can be approved much later. |
