‘We Will Refile and Reengage’ – US Gov’t Shutdown Halts Bitcoin ETFBTC Casino / 24th January 2019
The US Securities and Exchange Commission (SEC) has revealed the Chicago Board Options Exchange (CBOE) has withdrawn its plans for a Bitcoin exchange-traded fund (ETF).
Canada Border Services Test Blockchain Technology to Streamline Processes
Friday October 26, 2018
The Canada Border Services Agency (CBSA) is the latest entity to partner with a blockchain-based platform in a bid to make its systems more efficient. Tracking goods is an intensive […]
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Van Eck: ‘We Will Refile’ Bitcoin ETF
A document published January 22 confirms the U-turn, which would have seen fund manager VanEck and developer SolidX potentially offer the first regulated Bitcoin ETF on the US market.
“On January 22, 2019, (CBOE) withdrew the proposed rule change,” it states.
The companies first lodged the proposal with the SEC in June last year. After several delays, hopes were high that a positive decision would emerge in Q1 this year. Now, commentators note, this deadline ceases to exist.
Speaking to mainstream media, VanEck Associates’ Jan Van Eck explained that the current state of the SEC due to the ongoing US government shutdown meant negotiations would only reopen at a later date.
“…We were in discussion with the SEC about the Bitcoin-related issues; custody, market manipulation, prices – and that had to stop,” he told CNBC.
…Instead of just trying to slip through, we had the application pulled, and we will refile and reengage in the discussions when the SEC gets going again.
Bitcoin Won’t Reach $50,000 – Cryptocurrency Analyst Ran NeuNer Retracts Prediction
Friday November 02, 2018
Ran NeuNer says Bitcoin won’t end the year at $50,000. The host of the CryptoTrader show on CNBC tweeted in February 2018 that the top-ranked cryptocurrency would end 2018 on […]
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Bitcoin Doesn’t Care
Unlike previous ETF-related decisions, the news appeared to have little effect on the Bitcoin price 00 losing just 0.8 percent in the 24 hours to press time Thursday.
Over the past six months, opinions have meanwhile become more suspicious over the benefits an ETF would have on Bitcoin long term.
While lay investors traditionally claimed its introduction would boost the cryptocurrency’s clout through institutional exposure, others were bearish, conversely arguing non-custodial investing and potential rehypothecation would ultimately hurt Bitcoin.
In August last year, veteran cryptographer Nick Szabo added his weight to the latter camp, saying:
I for one am not lobbying for an ETF or for Wall Street-managed money in general. It might cause more problems than it’s worth.
Similar reactions also began appearing following news of the withdrawal, UK-based traidng platform eToro’s senior market analyst Mati Greenspan describing the event as “good” and a “power move” on the part of VanEck.
The SEC itself appeared to be in two minds about the VanEck/ SolidX proposal. After requested clarification of multiple issues, SEC commissioner Hester Peirce said in November that the ETF’s approval was “definitely possible.”
What do you think about the Bitcoin ETF withdrawal? Let us know in the comments below!
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Germany Gets First Bitcoin ATM In Years (But How Long Will it Stay?)
Friday November 02, 2018
Germany has received its first ever legally-sanctioned Bitcoin ATM (BTM) following a landmark legal ruling — but its longevity is already in doubt. Munich Machine Hangs On Court Ruling As […]
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