THELOGICALINDIAN - The US Securities and Exchange Commission SEC has briefly apoplectic trading in exchangetraded addendum ETN Bitcoin Tracker One CXBTF and Ether Tracker One CETHF
With an official release issued September 9, the SEC appear the acting abeyance of exchange-traded addendum dubbed Bitcoin Tracker One and Ether Tacker One.
Bitcoin Tracker One has been traded the Nasdaq Stockholm Exchange anytime back 2015 but it wasn’t until August this year they became accessible for US investors. Bitcoin Tracker One was offered by a ancestor aggregation of CoinShares Holdings, LTD.
According to Fundstrat’s co-founder and arch analyst Tom Lee, ETN articles acknowledge abounding similarities with the abundant accessible Bitcoin ETF. Trading the ETN resembles purchasing an American depositary receipt. This agency that the banker will see a foreign-listed asset in US dollars.
While the trades are accomplished in US Dollars, they are cleared, settled, and captivated in aegis in the home market, which, back it comes to Bitcoin Tracker One, is Sweden.
According to acknowledged able Jake Chervinsky, however, the problems the SEC is adverse is with the CXBTF and CETHF trackers themselves, not with bitcoin or ether.
“As the abounding SEC adjustment of abeyance explains, the affair is “a abridgement of current, constant and authentic information” on these products, such as whether they are ETFs, ETNs, or article else,” Chervinsky tweeted.
Indeed, the official absolution reads:
In the meantime, Bitcoin [coin_price] continues to boss the absolute cryptocurrency market. At the time of writing, Bitcoin dominance, the agenda currency’s market cap share of the absolute market, is 55.6 percent – the accomplished it has anytime been back December 17, 2017.
Will the abeyance accept an appulse on BTC price? Share your comments below!
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