In late June, the co-founder BlockTower Ari Paul saidthat the arrival on the market of open-end investment funds (ETF) focused on Bitcoin, will increase the coins up to 44 thousand dollars. The approval of the ETF Commission at the securities and exchange Commission (SEC) will raise the cost of the first cryptocurrency until at least 26 thousand dollars, the analyst added.
However, the SEC is in no hurry to raise the market — the Commission has postponed the decision of a relative of one of the five exchange traded funds CBOE called Bitcoin ETF Direxion. This writes NewsBTC.
When will Bitcoin grow
The final decision regarding the Bitcoin ETF Direxion rescheduled for September, the SEC said. Such a decision the regulator explains the complexity of the topic.
The Commission considered it necessary to extend the period necessary for making decisions regarding ETFs. Now we have enough time to consider the proposed changes to the rules. Thus, the Commission establishes September 21, 2018 as the date by which the Commission will either approve, or not approve the proposed rule change.
The publication notes that in the report of the Commission has not considered the request by the CBOE on startup funds. Experts interviewed by the publication, believe that decisions on other questions about the ETF also takes on Sept.
Let’s hope that the SEC will approve the launch of public funds. The community is already tired to wait for the arrival on the market of institutional investors, and this tool will significantly raise rates of cryptocurrencies.
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