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CBoE, VanEck and SolidX stand firm on bitcoin ETF despite SEC’s setback
As the U.S. Securities and Exchange Commission (SEC) recently preferred to defer their decision on many bitcoin exchange-traded fund (ETF) applications, May to September months have been eventful for bitcoin bears. With bears who are eager to short and gain despite the falling market being able to access bitcoin directly through futures made available through CME and CBOE’s derivatives mechanism.
However, newly invented blockchain as the technology has attracted investor interest in funds and cryptocurrencies have surged in recent months as these innovations continue to move towards the mainstream and generate compelling opportunities for investors, portfolio managers, traders and other market participants.
Last week, another the application was originally lodged by options exchange CBOE in collaboration with the investment management firm VanEck and blockchain technology company SolidX on June 20th, but SEC declined to approve at this juncture. As clarified by Jake Chervinsky, an attorney at law firm Kobre & Kim, the optimism likely to linger upto next decision that is scheduled for December 29th.
Well, but this time around, neither VanEck nor SolidX seem to be astonished by the latest decision.
Considering the fact that the delay was “much anticipated,” that the company’s commitment in bringing to market “a liquid, insured and appropriately regulated physical bitcoin ETF” was resolute, Gabor Gurbacs, the director of digital asset strategy for VanEck restated to the sources.
While the CEO of SolidX Dan Gallancy also affirmed the similar sentiment to resemble the overall perspectives of the project.
Currency Strength Index: FxWirePro's hourly BTC is inching at -149 (which is bearish), USD spot index is flashing at 126 levels (which is bullish), while articulating (at 06:20 GMT).
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