Crypto News

Commission SEC, the US will consider a new application to launch ETF on Bitcoin and Ethereum

Company Crescent Crypto Index Services LLC has applied for a cryptocurrency startup index Fund (ETF) on the NYSE Arca, tracks quotes bitcoin and Ethereum. The relevant document published on the website of the Commission on securities and exchange Commission (SEC).

The full name of the new ETF— USCF Crescent Crypto Index Fund (Ticker XBET). Its launch is going to sponsor investment company United States Commodity Funds LLC (USCF), whose activity is regulated by the Commission on urgent exchange trade (CFTC) and national futures Association (NFA).

In late March, the SEC once again postponed decision-making on the launch of two bitcoin ETF. One application was filed by the company VanEck and SolidX that intend to seek listing of their index Fund on the Chicago Board options exchange (CBOE) and the other firm Bitwise Asset Management, aimed on the NYSE Arca. Term review of applications will expire on may 16.

Earlier, Bitwise Asset Management filed with the SEC a report that blamed unregulated cryptocurrency exchanges in the falsification 95% of trading volume. This forced the largest analytical resource CoinMarketCap to develop new tools to improve data transparency, but many community members accused Bitwise that in reality that pursues its own selfish goals, and does not protect the interests of the industry.

Publication date 11.05.2019
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