Bitcoin ETFs will start or die in October 2

Bitcoin ETFs will start or die in October

The US Securities and Exchange Commission (SEC) must approve or reject at least two Bitcoin traded funds in October of this year.

With the release of a document dated August 12, the SEC decided to postpone the final verdict on three ETFs currently under review. The products handled by VanEck / SolidX, Bitwise and Wilshire Phoenix have all been received by the competent regulatory authority early in the year.

The summary says:

The Board considers that it is appropriate to set a longer period for the publication of an order of approval or rejection of the proposed rule change, in order to have sufficient time to consider the change. proposed rule.

An ETF refers to a type of financial instrument that institutional investors can use to participate in Bitcoin's performance. Until now, the SEC has refused to allow an ETF to market various regulatory concerns, while officials have said unofficially that they would be open to a Bitcoin-based product or even to a product. ; Ethereum.

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The process of launching an ETF began in March 2017, when the cryptographic scene received its first refusal from the SEC. Since then, requests have been withdrawn and reformulated several times, the last in February by VanEck / SolidX.

VanEck will therefore be looking into whether it will finally be able to launch its product with the regulator on October 18th, while Bitwise will be informed five days earlier on October 13th. Wilshire Phoenix, who subsequently applied, will receive her next update on the possible delay in the trial by the end of September.

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