The American regulator SEC will make a decision on the future of two applications for the opening of bitcoin exchange-traded funds (ETFs) by April 5th, 2019. On February 20th, 2019, requests from VanEck, SolidX and Cboe BZX Exchange were officially published in the Federal Register.
As a reminder, the offer to open the fund was submitted on February 13th, 2019. Starting from February 20th this year the general public has the opportunity to comment on the appropriateness of making such a decision. Thus, the SEC has 3 more weeks to make a decision, which means that we will know regarding the future of ETFs by April 5th, 2019.
It is possible that the commission will again postpone consideration of this issue, as it happened last summer. In any case, the regulator is currently faced with the task of considering two requests immediately – one of them is from Bitwise Investment Management/NYSE Arca, another one is from VanEck/SolidX.
ATB Coin Team’s Opinion
The SEC decision, as we all know, can be fateful not only for Bitcoin, which price will go up but for the entire crypto market. Investor confidence will return, as well as there will be an inflow of additional money. Our ATB Coin project will also win.
However, we remind you that it is too early to make plans. All of them are nothing more than building castles in the air. The regulator has up to 3 official continuances of consideration, which means that the regulation and approval of ETFs may be delayed indefinitely.
In addition, early feedback on the project is already on the Internet. Several comments concern such an important topic as the definition of the internal value of Bitcoin.
A representative of Hana Trading wonders how companies plan to determine this indicator which is important for investors who decide to invest in assets as part of an ETF. There is no answer from VanEck yet.