Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
By postponing the verdict, the SEC has until October 11 to give a definitive answer to VanEck about your application for a Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. ETF. However, given the track record on the part of the regulator, all indications are that they are prolonging an inevitable rejection.
- SEC will respond to the request for VanEck by 11 October at the latest
- Already the SEC last year rejected an application for ETF an Exchange-traded Fund, an investment fund that users trade on exchanges and trading platforms. Bitcoin de VanEck
- To date, the regulator has not accepted any applications for a ETF Bitcoin
La U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC) the main regulator for assets traded on the stock markets, postponed until October the official verdict for the application for a ETF Bitcoin submitted by VanEck.
VanEck pending response
According to information published by the SEC, the body will have until October 11 at the latest to approve, reject or indicate changes to the proposal submitted by VanEck, noting that on this occasion the consulting company did not submit any modifications with respect to the application for an exchange-traded fund based on Bitcoin.
As such, the proposal for VanEck for the creation of a ETF based on Bitcoin was filed on June 24 of this month, and was to receive a response by August 27 at the latest. The fund would be marketed through CBOE BZX Exchange and would be available to all duly accredited investors.
While the SEC did not deny the request for VanEck for a ETF Bitcoin, For many analysts and enthusiasts this is not a good prognosis for the company, as late last year the regulator rejected the filing introduced by the company, citing concerns about volatility a statistical measure of dispersion of returns, measured by using the standard deviation or variance between returns from that same security or market index. in the price of digital currency currency is a medium of exchange that defines value. and risks of market an area or arena, online or offline, in which commercial dealings are conducted. manipulation.
As well as to VanEck, la SEC has rejected applications fromWisdomTree, ARK Invest, Galaxy Digital digital technologies are these electronic tools that have the ability to generate, store or even process data. and many others, the most remarkable being the one of Grayscale, which he aspired to turn his Bitcoin Trust a trust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. (GBTC) in a ETF Bitcoin . The latter filed legal actions against the regulator because they consider that the refusal is due to particular interests of the agency.
In the case of VanEck, the firm’s CEO, Jan Van Eck, said in an interview by Anthony Pompliano that, in his view, the SEC is waiting for much clearer rules at the regulatory level to be able to approve a ETF of this guy and insinuated:
“I think the SEC is holding an ETF hostage. Bitcoin a la espera de obtener jurisdicción sobre los mercados asociados, cosa que no tiene en este momento. Creo que todo el díalogo regulatorio no es nada saludable ahora, ya que hay un tira y afloja, un pro y un contra, pero cuando llegas a [Washington] DC, es un congresista que está compartiendo su punto de vista”.
Let’s keep in mind that although the SEC has not approved an ETF based on Bitcoin, if it gave the green light for those associated with futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. of BTC, which it began to approve as of October 2021, of which it has already VanEck has yours operating through CBOE.
- VanEck CEO: “SEC is holding a Bitcoin ETF hostage while it hopes to have jurisdiction over crypto markets”
- VanEck’s Bitcoin futures ETF to debut tomorrow on Chicago exchange, CBOE
- SEC Officially Rejects Bitcoin ETF Application Filed by VanEck
Article by Angel Di Matteo / DiarioBitcoin
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