US SEC Postpones Decision Regarding Bitcoin Exchange Traded Fund.

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US SEC Postpones Decision Regarding Bitcoin Exchange Traded Fund

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the listing and trading of a Bitcoin exchange-traded fund (ETF) until September 30, according to an official document released by the SEC August 7.

ETFs are securities that track a basket of assets proportionately represented in the fund’s shares. They are seen by some as a potential step forward for the mass adoption of cryptocurrencies as a regulated and passive investment instrument.

The fund under consideration is powered by investment firm VanEck and financial services company SolidX, and is expected to list on the Chicago Board of Exchange (CBOE) BZX Equities Exchange. The SEC now has almost two more months to consider a proposed rule change by CBOE Global Markets Inc. that would allow the fund to list.

Source: https://cointelegraph.com/news/us-sec-postpones-decision-regarding-bitcoin-exchange-traded-fund