SEC Defers Consideration Of Bitcoin-ETF Application
The US Securities and Exchange Commission (SEC) has changed the date of the final verdict on the application for launching an exchange traded bitcoin-fund (ETF) from two New York-based companies, SolidX and VanEck, as the official website of the SEC's reports.
On June 6, the companies filed a statement to trade bitcoin-ETF on the Chicago Stock Exchange (CBOE). The SEC postponed the consideration of making amendments to the CBOE trading regulations on September 30, though earlier the meeting was scheduled for August 10.
In case the regulator approves the request, the joint venture, VanEck SolidX Bitcoin Trust, will be insured against losses caused by hackings or problems with control over the capital. In addition, companies will use the VanEck index to collect data on the bitcoin's prices on the OTC-platforms during the analysis of market situation. The companies estimated the value of the common venture's shares at $200,000.
An anonymous source related to the SEC informed that the regulator is interested in accepting the application. News about the decision delay has affected the BTC prices on the market. On August 8, 10:10 (UTC), the bitcoin's price is $6504.
Screenshot of BTC page on CoinMarketCap
As previously reported, the SEC of Thailand allowed the country's financial institutions to buy and sell cryptos.