In the case of the adoption of the cryptocurrency exchange traded Fund, there are new details. One of the companies whose application was rejected by the ETF to the SEC, initiated a meeting with representatives of the financial regulator. During yesterday’s discussion, both sides discussed possible ways of solving problems in this matter.
5 key tasks VanEck
Recall that the application VanEck rejected at the end of August. On the 9th of October in the Internet appeared the official document, which was given 5 conditions for the approval of ETF. At the end of the document, the company confirmed that it had met all the necessary items of the Commission on securities and stock exchanges of the USA.
On Monday, SEC Commissioner Kara Stein gave an exclusive interview to Bloomberg TV, where he spoke in detail about all aspects of the approval for exchange traded funds.
They [the applicants] will have to prove your ability to back up digital assets, even despite the constant price hikes in the stock market. We also look at how they can provide sufficient liquidity to allow investors to recover their money in case of emergencies.
After a series of waivers and transfers approval of the cryptocurrency ETF investors ‘ attention focused on other tools to help institutional investors to enter the market. The nearest important date for Bitcoins remains December 12 — exactly on this day, the NYSE appointed the launch of Bitcoinfutures trading platform Bakkt.
The SEC is not in a hurry to announce any specific dates regarding cryptocurrency ETF. Most analysts agree that the approval of the first exchange triptofana will not happen before 2019.
But one of the most famous cryptoendoliths Andreas Antonopoulos believesthat the industry does not need ETFs. Moreover, they can cause substantial harm to the market and Bitcoin itself.
Information prepared in Bitcoinist. To prepare for the coming tutumunu best together with the subscribers of our cryptodata.
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