The U.S. SEC is set to approve or deny the two ProShares Bitcoin ETFs filed in 2017 on 23 August. If approved, the ETF’s performance would be tracked on popular exchanges like the Cboe and CME.
The U.S. SEC will be analyzing ETFs from SolidX, VanEck, ProShares, and others within the next two months. If get approved, institutional investors can enter the market and facilitate the growth of the most important cryptos prices.
The crypto market sentiment has been severely driven down after the rejection of CBOE Bitcoin ETF, the ripple effect of which is spread all over.
Bitcoin declines by over 6% in the last 24-hours while the overall cryptocurrency markets lost over $20 billion.
Bitcoin exchange-traded funds are unlikely to be introduced to the stock market in the near future, as the SEC denies bitcoin ETF for the second time in a month.