The two exchanges to push the bitcoin ETF, has made an application to the U.S. SEC
The two exchange traded fund (ETF) provider has submitted to create bitcoin exchange traded fund product application to the U.S. Securities and Exchange Commission, will encrypt the digital currency derivatives trading.
The two companies submitted bitcoin exchange traded fund application
According to the disclosure of the U.S. Securities and Exchange Commission documents show that they have received the REXBitcoinStrategy REXShortBitcoinStrategy exchange traded funds and exchange traded funds and exchange traded funds for VanEckVectorsBitcoinStrategy.
REX is headquartered in Connecticut in the Coney, their local time on Friday (December 8th) to submit the application — the Chicago Board Options Exchange launched the first bitcoin futures business two days ago – and VanEck from New York in December is 11 to the U.S. Securities and Exchange Commission filings.
However, it is reported that the two companies are not going to directly hold bitcoin, on the contrary, the two funds will be trading bitcoin active futures contracts, and other bitcoin derivatives, so that investors can profit in the bitcoin price volatility in the.
In fact, there had been a lot of fund company hopes to launch bitcoin exchange traded funds, but so far, the United States Securities and Exchange Commission did not seem to make any clear, that is to say, they are not rejected this kind of fund application, also did not confirm approval. In fact, if the exchange traded fund direct trading bitcoin, then the U.S. Securities and Exchange Commission will refuse such funds for nine out of ten, the reason is bitcoin exchange management system is still not perfect; on the other hand, the U.S. Securities and Exchange Commission also said that they cannot be approved an exchange traded fund for investment “does not exist” – bitcoin derivatives.
But now, Chicago has officially listed options exchange bitcoin futures business, and LedgerX also launched other bitcoin derivatives. Therefore, many analysts predict that the U.S. Securities and Exchange Commission will gradually open up policy, approve the transaction of financial products similar to bitcoin exchange traded funds. So, with the bitcoin futures market, is expected to trigger a new round of bitcoin exchange traded fund declaration boom.
All the people are concerned about the approval of the U.S. Securities and Exchange Commission
In fact, the popularity of the mainstream encryption digital currency, the first bitcoin exchange traded funds listed is historic, because it will make more and more people, including retail investors, easy access and bitcoin investment related financial products. Expected next year, bitcoin prices will rise further, while a large number of financial derivatives, will add more fuel to the price rise”.
However, it is unclear how much the market will in reply, exchange traded funds and generally bullish bitcoin futures together, therefore, if the American Stock Exchange refused to reply bitcoin exchange traded funds, the market may enter a bearish region.