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Bitcoin ETF Could Be Approved by SEC This Week, Bitwise's Matt Hougan Says They Are "Closer Than Ever"

  • Alex Dovbnya
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    Bitwise's Matt Hougan says that the market has changed significantly over the past two years, which makes it reasonable to expect the SEC to approve a Bitcoin ETF

Bitcoin ETF Could Be Approved by SEC This Week, Bitwise's Matt Hougan Says They Are "Closer Than Ever"
Cover image via www.123rf.com

Forget about Bakkt. This is shaping up to be one of the most exciting weeks of 2019 for the cryptocurrency  market as Bitwise's managing director Matt Hougan says that they are "closer than an ever" to getting their Bitcoin ETF proposal approved by the US Securities and Exchange Commission (SEC), something that a lot of other contenders failed to achieve.  

“Two years ago, there were no regulated, insured custodians in the bitcoin market. Today, ... there are big names like Fidelity and CoinBase [with] hundreds of millions of dollars of insurance from firms like Lloyd’s of London,” Hougan told CNBC's "ETF Edge." 

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Bitwise Makes Pitch for Bitcoin ETF in Presentation Published by SEC

Bitwise Makes Pitch for Bitcoin ETF in Presentation Published by SEC

As reported by U.Today, VanEck Securities and SolidX Management dropped out of the ETF race in late September after launching a "limited" version of this investment vehicle without the SEC's nod.      

Now, the clock is ticking for Bitwise. The US regulatory watchdog is expected to voice its final verdict no later than Oct. 13, meaning that the big news is coming this week. 

“We will hear clearly between now and Monday what they think, and then, depending on what we hear, we’ll go forward from there. But it should be a very exciting week.”

The launch of a Bitcoin ETF would most likely revive Bitcoin that once again ended up at a crossroads after plunging by 20 percent after the underwhelming Bakkt launch.     

Will Bitwise manage to secure the much-coveted SEC approval? Feel free to leave your comment!   

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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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TRX Price Goes Green as the Number of Registered Tron Accounts Hits 3.8 Mln

  • Yuri Molchan
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    Tron’s TRX was the second highest-growing asset earlier today, as number of accounts on the network got over 3.8 mln

TRX Price Goes Green as the Number of Registered Tron Accounts Hits 3.8 Mln
Cover image via www.123rf.com

Justin Sun-founded Tron has reached another big milestone, this time it concerns the number of active accounts on the network.

From a recent tweet of a Tron community member, it is clear that the number of accounts registered on Tron now totals more than 3.8 mln – 3,803.403 as per the offered screenshot.

As per the Tron’s market stance, TRX has so far managed to hold on to position #11 on CoinMarketCap, where it has recently returned after spending quite a long while on spot #14.

Earlier today, Tron showed the second best price performance on the top 11 list, coming second after XRP.

XRP-TRX
Image by CoinMarketCap

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Ethereum Price to Surge to $202, If ETH Breaks above Psychological Level at $185, Crypto Trader Believes

At press-time, TRX is sitting at $0.0165, showing a mild rise by 1.75 percent. As reported by U.Today earlier, this morning, the coin demonstrated a spike by 4.32 percent.

TRX price
Image by CoinMarketCap

As well as getting back to position #11 on CoinMarketCap, recently, Tron celebrated 500,000 new users joining the network. Another recent milestone reported by Justin Sun was the significant progress with users transferring their USDT coins to the Tron chain.

 

Are you bullish on further TRX price? Talk to us in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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