VanEck And SolidX Continue Bitcoin ETF Effort

Related: Bitcoin Price Prediction to Get Traders Bullish

VanEck and SolidX’s “arguments as outlined in the memorandum comprehensively address the grounds the regulator had given in its 2017 disapproval of SolidX’s previous ETF application: a perceived failure to be consistent with Section 6(b)(5) of the Securities Exchange Act, which focuses on “prevent[ing]fraudulent and manipulative acts and practices,” according to Coin Telegraph.

Previously, the SEC argued that commodities exchange traded products were backed by robust futures markets, a point VanEck and SolidX cite in their favor because bitcoin futures currently trade on two well-known domestic exchanges (CBOE and CME) and more exchanges are mulling launching futures tied to digital currencies.

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