Another Bitcoin ETF Decision Gets Delayed by SEC. How Long Will US Regulator Continue Kicking the Can Down the Road?

Libra Coin News
Tue, 09/24/2019 - 17:23
Alex Dovbnya
SEC yet again postpones its decision on a Bitcoin ETF, thus keeping the cryptocurrency industry in suspense
Cover image via U.Today

The US Securities and Exchange Commission (SEC) has delayed its final verdict on the Bitcoin exchange-traded fund (ETF) that is backed by investment firm Wilshire Phoenix.

The rule change proposal, which was originally filed back in May, is currently being evaluated by the US regulatory watchdog.

Bitcoin Needs to Be Better Regulated to Get Listed on Nasdaq or NYSE, According to SEC Chairman Jay Clayton

Solving the volatility problem

The Wilshire Phoenix ETF stands out among the rest of the proposals given that it would offer exposure to both Bitcoin and US Treasure bonds. This synergy is supposed to make this investment vehicle less volatile, which is supposed to open the road to the long-awaited approval.

As reported by U.Today, price fluctuations remain the main impediment to green-lighting a Bitcoin ETF, according to SEC Chairman Jay Clayton.

VanEck, SolidX to Launch Bitcoin ETF Without SEC Approval

The last one standing

It is worth mentioning that the SEC is yet to voice its decision on the Bitwise proposal, but the clock is already ticking. The deadline for the Bitwise ETF is set for Oct. 14.

VanEck and SolidX recently left the ETF race after launching a Bitcoin trust that enjoyed a very lukewarm reception from investors.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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