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Just as predicted, SEC postpones VanEck’s BTC exchange-traded fund approval until the end of February

Just as predicted, SEC postpones VanEck’s BTC exchange-traded fund approval until the end of February
Dec 7, 2018 by Rico Wise

The delay has been heavily forecast, as the cryptomarket is approaching the end of 2018 with bearish trend.

Within hours after the SEC’s announcement of the delay, Gabor Gurbacs, the director of cryptocurrency strategy at VanEck, claimed that he is confident about the soon-approaching BTC ETF approval from the Securities and Exchange Commission.

According to Gurbacs, the need for a BTC exchange-traded fund in America is a fact, and VanEck has met all the possible requirements and demands in terms of pricing, custodial measures, and safekeeping, which leads the company to optimistic expectations.

It is worth reminding that the Commission has been postponing its decision regarding VanEck SolidX BTC trust for a few times this year. The strict stance of the Commission is so far understandable. At the end of this summer, the authority had turned down 9 BTC ETF filings, pointing at the inability to display preventive measures against fraudulent activities and market manipulation.

Among the rejected applications were two filings submitted by Winklevoss brothers, who, despite these letdowns, still have faith in the upcoming adoption of an exchange-traded fund.

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