However, bitcoin prices have recently been surging with some market observers attributing that rebound to increasing momentum for bitcoin ETF approval. Some sources believe regulators will approve a bitcoin ETF before the end of 2018.
In June, ETF sponsors VanEck and SolidX, a fintech company engaged in the bitcoin ecosystem, revealed plans for the VanEck SolidX Bitcoin Trust ETF (XBTC). That fund is targeted at institutional investors as it would debut with a share price of $200,000. That product would track an index linked to a group of bitcoin trading desks, possibly allaying some of the SEC’s prior concerns about funds linked to physical bitcoin.
“Notably, none of the ETF proposals being postponed are from VanEck and SolidX, which are currently under discussion by the wider crypto community. More than 100 comments have been submitted for that proposal, and a decision may occur as soon as next month,” reports Coin Desk.
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