Daily crypto: Bitcoin reached $8,500 and ruling on bitcoin ETF is delayed

Daily crypto: Bitcoin reached $8,500 and ruling on bitcoin ETF is delayed.

Image source: Shutterstock

Christian Ploog

christian.ploog@trijo.co

U.S. Securities and Exchange Commission is now reviewing several applications for crypto ETFs.

It has been speculated that the rise in the crypto markets recently has been due to positive expectations of the decisions that the U.S. Securities and Exchange Commission (SEC) is expected to give shortly. The decisions are about whether they will approve ETFs linked to the cryptocurrencies.

Now, the SEC has announced that they will postpone their decision regarding the application from the fund company Direxion until 21 September. The reason is that they want to have enough time to go through the application properly before making a decision, CCN writes.

The ETF application from the companies Vaneck and Solidx, that Trijo News wrote about yesterday, is another attempt to get a crypto ETF approved by the SEC. However, the decision regarding that ETF is expected next month, unless that too is postponed.

In addition, yet another company has applied for a crypto ETF with the SEC. It is the startup Bitwise that wants to launch an ETF that is linked to the top ten cryptocurrencies, unlike the other applications where the ETFs are only linked to bitcoin, Coindesk reports.

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, which could make it easier for more people to invest in the crypto market.

All big currencies show green numbers

Bitcoin (+2,99%) continues to go upwards, reaching around $8,500 recently for the first time since May.

In fact, the market cap of the entire crypto market went over a symbolic threshold recently when it exceeded $300 billion for the first time since mid-June, according to Coinmarketcap.

All major cryptocurrencies have shown green numbers during the last 24 hours. In addition to bitcoin, eos (+4,92%) has performed the best.

The trading platform Bitmex writes in a tweet that they traded close to one million in xbt during the last 24 hours. That is equivalent to a value of $8 billion, which they claim is an industry record.

The ones that performed the best on top 100 were iost (+35,17%) and pundi x (+20,61%), and the ones that performed the worst were holo (-7,97%) and basic attention token (-7,35%), according to Coinmarketcap.

 

Asset: Price: % (24h)
Bitcoin $8 230,80 +2,99%
Ethereum $472,18 +0,47%
Xrp $0,454429 +0,08%
Bitcoin cash $845,78 +0,44%
Eos $8,51 +4,92%

Follow Trijo News on FacebookTwitter and Telegram.

Keep up with the latest news

Read more