Here are The Upcoming BITCOIN ETF Decision Dates.
Be sure to see the update at the end of this article in regards to the SEC Bitcoin ETF Decision.
23August2018: ProShares ETF Final to Be Approved or Denied
07September2018: Bitwise ETF First to Be Denied or Delayed
21September2018: Direxion ETF Final to Be Approved or Denied
30September2018: CBOE VanEck/ SolidX ETF 2nd to Be Approved, Denied or Delayed
Of the Bitcoin ETF Decision under consideration, The Chicago Board Options Exchange (CBOE) is the one to watch and may have a huge effect on the cryptocurrency market… or at least that is what the pundits are squaking.
Then again, maybe it will be a big ol’ yawner!
UPDATE: SEC Rejects 9 Bitcoin ETF Decision Applications from ProShares, Direxion and GraniteShares
Their reasoning is as follow:
[T]he Commission is disapproving this proposed rule change because, as discussed below, the Exchange has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of the Exchange Act Section 6(b)(5), in particular the requirement that a national securities exchange’s rules be designed to prevent fraudulent and manipulative acts and practices.
Among other things, the Exchange has offered no record evidence to demonstrate that bitcoin futures markets are ‘markets of significant size.’ That failure is critical because, as explained below, the Exchange has failed to establish that other means to prevent fraudulent and manipulative acts and practices will be sufficient, and therefore surveillance-sharing with a regulated market of significant size related to bitcoin is necessary.
[The agency] emphasizes that its disapproval does not rest on an evaluation of whether bitcoin, or blockchain technology more generally, has utility or value as an innovation or an investment.
I will go on and conclude with my opinion about Bitcoin ETF.
Why do we care?
Many of us thought that the Bitcoin Futures market would sent Bitcoin flying and gain mass acceptance. I said it then and and I’ll say it now… the Bitcoin Futures market won’t drive up the market. It will be a short trade party and drive the price down. That’s what happened.
Even if the CBOE’s Solidx application (rule change) is approved, it still won’t have a big impact on the Cryptocurrency market on its own. As long as the people believe it will, then it shall be. If it is rejected, people will dump and therein lies their self-fulling prophecy. If it is approved, people will start buying and the price will increase. Isn’t it ironic, don’t you think?
When the 9 Bitcoin ETF decision under consideration were rejected, guess what happened? A
What do you think about the Bitcoin ETF decision judgement day?
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Until Next Time…
Faith Sloan “QueenWiki”
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