2 the company is currently awaiting a decision on their applications about starting a bitcoin ETF from the securities and exchange Commission (SEC) took the decision to self-start trading with the new tool. The information was presented in The Wall Street Journal.
Representatives of the companies VanEck and SolidX decided on an independent run of the financial instrument. However, because of possible pressure from the regulators, a decision was made to work in a restricted mode.
Be the first to try out a bitcoin ETF
will institutional investors. According to media reports, the event will occur in the near future. There is information that the auction may start on 5 September. Admission of retail customers to the new tool will be opened only after approval from the SEC.
We will remind, earlier representatives of the SEC has repeatedly postponed the date of issuing the decision on the admission to launch a bitcoin ETF. At the moment the deadline is scheduled for October 18. Probably, the decision to work independently from VanEck and SolidX can be explained by the fact that companies are tired of waiting for approval.
Working with a bitcoin ETF for investors is the ability to avoid the traditional risks associated with the technical features of the cryptocurrency. In the case of permit institutional investors to the new financial instrument, the cryptocurrency market can obtain the necessary support.
Against the decision of the representatives of the companies about the independent tool is run, the most capitalized cryptocurrency went back into growth. So, as of the moment, bitcoin is trading at $10 682.