THELOGICALINDIAN - VanEck and SolidX two arresting firms in the agenda asset amplitude accept agreed to coact in ablution a Bitcoin exchangetraded armamentarium ETF Both companies accept ahead approved to barrage a Bitcoin ETF alms but bootless to accept authoritative clearance
VanEck and SolidX accept entered into a affiliation to account a “physically-backed Bitcoin ETF.” VanEck will be amenable for the business casework action while SolidX will handle the ETF sponsorship. The ETF appliance was filed with the SEC on June 5, 2018.
Commenting on the partnership, John van Eck, the CEO of VanEck, told Business Wire:
In 2017, VanEck filed the aboriginal anytime 40-Act Bitcoin ETF. In 2016, SolidX filed the first-ever physically-backed Bitcoin ETF. The two firms are now acquisitive to get approval this time around.
Daniel Gallancy, the CEO of SolidX, bidding optimism at the new approach, stating:
If the filing sails through, the ETF will be listed on the Cboe BZX Equities Exchange beneath the ticker “XBTC.”
Despite concerted efforts by both cryptocurrency and fintech firms, the SEC has resisted the agitation for Bitcoin ETFs.
With the actualization of Bitcoin futures in December 2017, abounding assemblage anticipation ETFs would anon follow. However, that hasn’t been the case. For the SEC, issues over fair pricing, asset valuation, and aegis — as able-bodied as acceptable clamminess — abide to be a concern.
In the past, the SEC has asked some firms to abjure their Bitcoin ETF applications while indefinitely dabbling the approval of others.
Will the VanEck-SolidX Bitcoin ETF affiliation access the all-important authoritative greenlight? Do you anticipate Bitcoin ETFs will account prices of the arch cryptocurrency to increase? Share your angle in the animadversion area below!
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