Is the trading platform GXCM a scam?
In this article, Trijo News examines the trading platform GXCM. The FCA has issued a warning regarding the company.
The U.S. Securities and Exchange Commission (SEC) has already rejected several applications for bitcoin ETFs. The question now is whether they will approve any new application in 2018.
Recently, the U.S. Securities and Exchange Commission (SEC) postponed its decision regarding a bitcoin ETF application from the companies Vaneck and Solidx until the end of September. After the news, the crypto markets plummeted.
The fact that the decision was to be postponed was something Canaccord, Canada’s biggest investment firm, suspected in a recently released report.
“It is largely believed that the SEC will extend its deadline, in which case a decision may not be made until March 2019. Meanwhile, we note that other bitcoin-based securities (e.g. Bitcoin Tracker One) have been available for trading on regulated exchanges as early as May 2015 in Sweden, while north of the border, Canada is working towards its own bitcoin ETF product”, Michael Graham and Scott Suh, Canaccord researchers, wrote in the report.
An ETF is an abbreviation for “exchange traded fund”. In short, a bitcoin ETF would follow the bitcoin price, thus becoming a way for people to invest in bitcoin through traditional exchange platforms.
The SEC has previously been reluctant to approve ETFs based on emerging assets and commodities. However, as both Vaneck and the U.S. stock exchange Chicago Board of Exchange (CBOE) previously had to deal with both regulated U.S. markets and the SEC, Canaccord believes that their ETF applications are likely to be approved eventually, although they may be delayed.
For example, the two ETFs in question have full insurance and a guaranteed secure storage for investors. But above all, they are not dependent on a single crypto exchange for valuation. The latter was something that caused the application for a bitcoin ETF from the Winklevoss twins to be rejected, writes CCN.
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