THELOGICALINDIAN - Following its accommodation to blame Bats BZX Exchanges proposed aphorism change for Coin ETF the US Securities and Exchange Commission SEC now has two added Bitcoin ETFs to accede Solidx Bitcoin Trust and Barry Silberts Bitcoin Investment Trust The Commission has until March 30 to accomplish a accommodation on the above while the closing is abounding months away
Also read: Examining SEC’s Decision to Reject Bitcoin ETF
Rejections Likely for Upcoming Bitcoin ETFs
The SEC’s accommodation to disapprove the proposed aphorism change for Coin ETF aftermost Friday was primarily based on the attributes of the bitcoin markets. The Commission claimed that Bats 
BZX Exchange charge “have surveillance-sharing agreements with cogent markets for trading” bitcoin or its derivatives and that those markets charge be adapted for the aphorism change to be constant with the Exchange Act. However, back “the Commission believes that the cogent markets for bitcoin are unregulated”, the two belief are not met.
The adventitious that cogent markets for bitcoin will be adapted in the abreast future, if at all, is slim. The added Bitcoin association has already appear to accept this, and expects the Commission to adios the proposed aphorism change for Solidx Bitcoin Trust, as axiomatic in babble apartment and forums online.
Confirming the community’s apprehension is above Needham analyst, who is now Head of Research at Blockchain Capital LLC, Spencer Bogart. Citing how the area for disapproval of Coin ETF “were accompanying to the dynamics of the basal bitcoin markets” as against to article specific in the ETF filing, he told Bitcoin.com that:
Bogart, who is acclaimed for ciphering a sub-25 percent adventitious of Coin ETF actuality accustomed by the SEC, now says that the adventitious for Solidx Bitcoin Trust is “extremely low”, acquainted that it is “likely to be alone on the aforementioned grounds”.
Very Little Anyone Can Do
Furthermore, Bogart believes that both NYSE Arca and Solidx Management LLC, which is the sponsor of Solidx Bitcoin Trust, can do “very little” to bigger the adventitious of Solidx Bitcoin Trust actuality approved. Bogart said that he did not anticipate NYSE Arca has a bigger adventitious of accepting its aphorism change accustomed than Bats BZX Exchange, abacus that:
Future Prospect of SEC’s Approval
The SEC acclaimed on Friday that, in the future, “regulated bitcoin-related markets of cogent admeasurement may develop” abundant for a Bitcoin ETF to be approved. However, Bogart believes differently, advertence that:
On February 24, NYSE Arca filed the first amendment to its proposed aphorism change apropos to the advertisement and trading of shares of Solidx Bitcoin Trust beneath NYSE Arca Equities Rules 8.201. The comments are due on March 16. When the adventitious of approval is actual low, exchanges sometimes abjure their proposed aphorism changes. At columnist time, NYSE Arca has not done so and the Solidx aggregation did not anon acknowledge to Bitcoin.com’s appeal for comment.
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Images address of Shutterstock and the SEC
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