Crypto-currencies: Why the SEC is in no hurry to open the cryptocurrency era ETF

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On Monday morning, July 30, capitalization of the cryptocurrency market is 294 billion dollars, retreating from the highs of last week, continuing to win back the news that the SEC is in no hurry to open the era of “ETF”, once again rejecting the application of the Winklevoss brothers in opening a bitcoin ETF Fund.
The market average, but to talk about the beginning of the new fall not yet, rather it just stop growth. The value of Bitcoin is $8156, decreasing by -0.17%, Ethereum is currently trading at $462.46 falling for -0,51%.
Slight growth only two of the top ten cryptocurrency cryptocurrency according to Coinmarketcap version of XRP, and Bitcoin is Cash – on +0,06% and 0,12%.
To continue growth required a new, positive stimuli, which may appear until August 10 – on this date it is expected the decision of the SEC regarding the provision of or failure CBOE the ability to open ETF, bitcoin Fund.
Of course, investors have long been waiting for the new tool, which will facilitate investments in bitcoin. Since last year after the CME allowed the registration of futures, it became clear that the next step in the gradual release of the cryptocurrencies from the “shadow” in the category of “civilized” investment will be a ETF.
The petitions were filed, including the Winklevoss brothers, but at the end of last year, so now the SEC answer is the same – failure. However, the refusal of the SEC clearly States that her opinion does not concern the industry as a whole, and relates only to the specific proposals Wilnklevoss Bitcoin Trust. And this remark for the market – a very positive sign because it is an indication that in the future the SEC is not against the bitcoin ETF as such.
In my opinion, if anyone will receive the approval of the regulator first, it will be the CBOE Chicago Board options exchange as this largest and respected site has a close relationship with the regulators. And, given the role of a “pioneer” in the issue of the launch of futures on Bitcoin, it is likely that history will repeat itself, and the ETF will also be the first allowed on the basis of this platform.
SEC refusal Wilnklevoss Bitcoin Trust says directly that a necessary condition for resolution is the ability of a platform, dedicated to listing such products, such as bitcoin ETF to provide regulators the data of monitoring of the market crypto products. From my point of view, CBOE is able to provide such data.
Olga Prokhorova,
“International Financial Center”