Related: Cryptocurrency Versus Forex
A cryptocurrency-based ETF has not yet been received approval from the SEC. VanEck and SolidX filed a joint application for a bitcoin ETF, which was published for comment on July 2 has until August 16 for the SEC to take action on the proposal.
The price of Bitcoin was at $8,133.14 as of 5:30 p.m. ET–up over 30% since the end of July. Bitcoin has been powered by a tailwind of positive news regarding institutional investor interest from names, such as BlackRock. In addition, San Francisco-based asset management company Bitwise recently filed for “the first publicly-offered cryptocurrency index exchange-traded fund (ETF).”
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