The Securities Exchange Commission (SEC) released official documents stating their decision to delay the Bitcoin ETF until 30 September 2018. For information, ETFs are a form of investment that tracks the performance of a particular asset or index. This type of investment is widely chosen because it is easy to use, transparent, flexible, and low in cost.
According to its supporters, ETFs will bring significant benefits if applied to the crypto currency industry. One of the reasons is: investing in the cryptomarket requires some knowledge and information in terms of logistics. With ETFs, companies can manage their resources while storing them with crypto money. Therefore, if the SEC approves the Bitcoin ETF, the opportunity for the crypto industry to be adopted en masse will be wide open.
The SEC initially had until the end of August to express its position on the submission of proposals regarding Bitcoin-based ETFs. The company's proposal being considered is from the VanEck investment company and the SolidX Bitcoin Trust financial services company. Bitcoin ETF from the two companies will be listed on the CBOE BZX Stock Exchange.
However, the SEC decision-making deadline was extended to 30 September. The existence of this delay clearly makes the fate of the Bitcoin ETF still hanging around, so that sparks doubt on the crypto currency market.
The Crypto Community feels disadvantaged
Reporting from Bloomberg, SEC delays and inability to make decisions have harmed users of crypto currencies. They are increasingly pessimistic about the prospect of the Bitcoin ETF, because the SEC has also previously rejected requests submitted by Tyler and Cameron Winklevoss at the end of July.
So far, there have been 5 Bitcoin ETF proposals pending decisions by the SEC. In response to this, the SEC explained that they still need time to consider whether Bitcoin is worthy of being an investment tool or not. Moreover, in January,
https://www.seputarforex.com/etf-bitcoin-ditunda-pengguna-kripto