The has once again postponed approving , now for the second time this year, which is a security similar to a stock whose value is a percentage of ’s spot value. The first postponement came in March after Bitwise and VanEck SolidX Trust put in proposals for offering such products to their clientele. Now the is putting off proposals from again from Bitwise and NYSE Arca, which first filed for approval of assets back in January. However, the first filing for approval dates to last year when the Chicago Board Options Exchange first raised the question of offering .
While claiming to still be researching the possibility of regulating , it is very likely the is waiting for the market to mature before it releases such a volatile asset onto American investors. However, it seems this is what investors want, as there are now 4 agencies, both for retail and institutional investors, that are seeking approval for on their platforms.
expert and Managing Director of .com, Dave Nadig, is still optimistic in regards to the approving these assets, although he admits that it will take time as will do a deep dive into itself due to its comparatively young age:
“Based on the comments we saw last week around one of these filings, it’s clear the is still in information-gathering mode.”
However, Nadig does believe it is reasonable to assume that will be approved by the end of 2019.
Today the listed a 14 question public filing in an effort to learn more about what the public thinks in regards to , although in this case the public will turn out to be very high profile figures in the world, as was the case for the previous public filing. The wishes to do all it can to protect potential investors from an asset it has little understanding of.
“The Commission is instituting proceedings to allow for additional analysis of the proposed rule change’s consistency with Section 6(b)(5) of the Act, which requires, among other things, that the rules of a national securities exchange be ‘designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade,’ and ‘to protect investors and the public interest.’”
Published at Wed, 22 May 2019 06:24:51 +0000
