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VanEck, SolidX Bring Their ETF Proposal to a Halt One Month Before SEC's Decision

  • Alex Dovbnya
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    CBOE BZX Equity Exchange’s suddenly puts the breaks on its VanEck/SolidX ETF proposal without explaining the reason for doing so

VanEck, SolidX Bring Their ETF Proposal to a Halt One Month Before SEC's Decision
Cover image via www.123rf.com
Contents

The Lambo dreams of Bitcoin bulls who hoped that the VanEck/SolidX exchange-traded fund (ETF) might get the green light from the Securities and Exchange Commission (SEC) have just been shattered.

The filing, which was submitted to the SEC by Cboe’s BZX Exchange, shows that it withdrew the proposed rule change on Sept. 13.

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Waving a white flag

Cboe didn’t specify the reason why it made such a U-turn one month before the final deadline. The SEC was supposed to voice its final verdict on the joint ETF before Oct. 18.

VanEck’s digital asset strategist Gabor Gurbacs commented that they would continue to work closely with regulators and market participants.

On Sept. 3, VanEck Securities and SolidX Management made an announcement about launching a “limited” version of a Bitcoin ETF that is designed for a selected group of institutional investment. However, as of now, there is little demand for the product.

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Bitwise is still in the game

Numerous crypto influencers took to Twitter to crack jokes about how it takes forever for the SEC to approve a Bitcoin ETF.
It’s the year 2097 and the SEC still hasn’t approved a Bitcoin ETF.

There is still a gleam of hope. The proposal, which was filled by Bitwise Asset Management together with NYSE Arca, might get a much-coveted nod from the US regulator in October (the deadline is set for Oct. 14).

SEC Chairman Jay Clayton recently stated that they were moving closer to green-light a Bitcoin ETF, but there was “work left to be done.”

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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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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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