2018-7-24 02:16 |
The crypto universe has spoken: they want a bitcoin ETF and they want it now.
Dubbed the VanEck SolidX Bitcoin Trust, the proposed ETF would be priced from a bundle of crypto-assets that fluctuates in value primarily in accordance with over-the-counter trading desks, as opposed to online cryptocurrency exchanges.
In addition, SolidX would offer insurance for investors covering loss or theft of bitcoins held by the trust, differentiating it from the most recent bid for a regulated crypto ETF led by the Winklevoss Bitcoin Trust.
Supporters of the proposed rule change argued that a bitcoin ETF would, in fact, make the crypto markets a safer and more trustworthy space for investors to deal in.
(That said, it’s not the first time the SEC has been on the receiving end of overly enthusiastic bitcoin supporters.)
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