VanEck/SolidX Bitcoin ETF has 99% Chance For Approval After SEC’s Delayed Decision
Earlier this week, the United States Securities and Exchange Commission (SEC) posted cryptocurrency the market fall when it delayed a decision on one of the most promising in the ETF space crypto. Although the decision pending on SolidX VanEck bitcoin ETF, CBOE is optimistic the ETF will be approved.
In fact, one of the online sources claim no ' s "99% expectation " from the Cboe that bitcoin ETF will be approved. As we reported earlier this week, the SEC's denial of denial is expected, and there were Winklevoss "the certainty close " which Cboe VanEck/SolidX bitcoin ETF will be approved.
On 26 June, the SEC received applications from Cboe Futures Exchange to launch the world's first ETF bitcoin. Bitcoin that ETF called VanEck SolidX Bitcoin Trust.
The SEC has until August 10 to approve, reject, or postpone the decision on the ETF. On 7 August, the SEC released a statement indicating that it is postponing a decision on the bitcoin ETF.
Optimists claim the delay suggested approval of the future. Why the SEC will defer a decision on the ETF if it's just a plan to deny? Pessimists, meanwhile, claims the SEC just doing due diligence before denying VanEck bitcoin SolidX ETF – as it has denied previous applications each ETF bitcoin.
Last month, the SEC denies ETFS proposed by the Winklevoss twins because of fears of manipulation of market prices in the bitcoin. There is speculation maybe even an SEC insider trading because of the way they launched "delay did not deny " announcement but would be difficult to take a fundamental point of view all things considered.
The things that really could be different this time around? Bitcoin Cboe VanEck/SolidX ETF will be the world's first ETF bitcoin? Will the SEC really approve investment products?
According to various online sources, the answer to all these questions is "Yes's". VanEck SolidX bitcoin ETF stands a very real chance at being approved. The SEC has until September 30 to approve or reject the ETF, and the sources claimed they learned against the agreement.
The sources come from The Journal ICO, which CITES "contact CBOE, the back of the Van Eck, and veteran industry. " here is what The ICO Journal had to say about a people source:
"Our most consistent source of CBOE answer via text this way (edited): " is expected and the market who act irrationally to the announcement. Each submission has got this kind of delay. Once again, expected. Still expect approval. expectations of 99%. Print it out, but as usual, do not use my name. :) ""
In other words, procrastination is part of the normal approval process. It does not indicate that the SEC was leaning towards denying the ETF. In fact, it showed the opposite.
Meanwhile, The ICO site media quoted sources in Van Eck who replied via email and echo the sentiments above, says:
"Our team expected to delay this, almost to the hour, and has become an expectation in our planning process. We are not saying when we are expecting approval, but there has been speculation that we actually agree with and has been incorporated into our timeline. We are not at all surprised by this. Most importantly, we believe our delivery is the strongest yet to be put in front of US regulators, and believes that the strength will be rewarded. "
Both sources indicate that VanEck SolidX bitcoin ETFS have the best chance of being approved by the SEC. Sources first very enlightening, claim that ETFS have "99% expectation " approved.
Finally, crypto journal outlets reached out to a former employee of the SEC for comment. Employees who leave the Agency Watchdog three months, which means he has a front row seat to the ETF bitcoin deliberation. He also still talking to friends in SEC. Here's what it says that the source for The ICO Journal:
Four people still I talk to on a daily in the SEC essentially says I ' it will get approved but we will make the market understanding that we really dig really deep, i.e. the investor protection/transparency '. And it makes sense. Most of the people still have no idea what ' digital assets ' or what it means. So when you do this, such as approval and consent in a row that will follow in this asset class-think 3-5 years back the number that will be associated with this market? And maybe that is the key to approval of the Van Eck SolidX? It's set up as vehicles accredited investors. A single element which is probably what gives so many of us confidence in the agreement. And it's genius by Van Eck SolidX. "
The resource it describes one of the most important points about Exchange-traded funds SolidX VanEck bitcoin: it does not cater for retail investors. In contrast, ETFS come with a minimum price of $200,000 per share, which means it will serve exclusively for institutional and other accredited investors. That source explains the decision to serve accredited investors as "a stroke of genius ". That decision could be the difference between approval and rejection.
"Is not an issue when if " Bitcoin ETF gets approved
Finally, if you believe The ICO Journal's anonymous sources, then bitcoin ETF would almost certainly be approved in the near future. VanEck SolidX bitcoin ETF will be approved because the serve accredited investors rather than retail investors, and the delay is part of the approval process expected by all the people involved.
Of course, the market does not agree with The ICO Journal source: crypto market continued to slump in the wake of the SEC's decision to postpone. Bitcoin is approaching a record low for the year, currently sits in the $6287 when we went to press. world's first Approval bitcoin ETF, however, could quickly swing markets in other ways as CEO BitMex say Yes for approval of 2018 and will send a bitcoin for $50.000 +.
Remember, there are 9 different Bitcoin ETF coming down the pipeline that will await their results and a final decision by the end of September.
Bitcoin-etf-schedule-date
While some believe in Q1 2019 before we see the first ever SEC approved Bitcoin ETF decision, many of the remaining high on hopium with an opportunity for a barrier to come in the year 2018.
What are you thoughts the folks at CBOE legit, credible insider reveals there is a 99% chance of a near certainty of approval that we look at a ground-breaking first time SEC decision to Exchange-Fund A Bitcoin? Stay tuned and know that if this gets approved, right now is the best time to buy a bitcoin as the market could react in one of the fastest growing ways imaginable.