While the SEC has postponed its decision on a Bitcoin ETF proposal by VanEck/SolidX, the Bitcoin community has given little attention to it as Bitcoin price largely remains stable.
The approval of a regulated crypto derivative this year is now looking less likely, as the SEC has once again delayed its decision on whether to approve the Bitcoin ETF proposed by asset manager Bitwise. However, Bitwise remains optimistic.
American lawyer Jake Chervinsky explains that despite the U.S. shut down the SEC has provision to act on VanEck Bitcoin ETF. However, ETF executives remain confident.
While Bitcoin recovered by 10% over the weekend, it is still facing some crucial resistance levels ahead for a short-term surge. Here’s what analysts have to say.
With VanEck facilitating OTC trades for its Bitcoin ETF, there is a higher possibility that the SEC might approve its proposal.
The launch of OTC Index by VanEck is to alleviate SEC’s concerns regarding market manipulation on crypto exchanges.
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.