You will wait longer for a Bitcoin ETF: The US SEC postpones VanEck proposal

  • Despite high volatility in the crypto market; US SEC decides to delay and not reject Bitcoin ETF proposal.
  • The commission to further study the proposal and understand the cryptocurrency market.

Investors will have to wait longer for the verdict regarding the proposed Bitcoin exchange-traded fund (ETFs). The US Securities and Exchange Commission in a circular sent out on August 12 said that the regulator intended to study the proposals further.

The delay does not come as a surprise to investors. Many anticipated that a postponement by the SEC due to the high volatility not only for Bitcoin but the entire cryptocurrency market. The delay is not entirely negative for the proposed Bitcoin ETFs by VanEck, Bitwise, and Wilshire Phoenix.

While the SEC could have outrightly rejected the proposals citing high volatility and lack of regulations, the regulator has chosen to better understand the product proposed and study the market.  

At the moment, Bitcoin is trading at $11,228 following a 1.28% loss on the day. Bitcoin price opened the session on Tuesday at $11,386 and has hit a high of $11,439. The prevailing trend is bearish just like the rest of the crypto market.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price prediction: BTC/USD sandwiched between massive resistance and support levels

Bitcoin managed to have a bullish day after five straight bearish days. So far today, BTC/USD has gone up from $10,190 to $10,223.45. The hourly chart shows us that BTC/USD went up to $10,253.

More Bitcoin News

Ethereum price analysis: ETH/USD majestically breakouts, eyes set on $220

Ethereum has been among the best performers this week. The second-largest cryptocurrency with a market cap of $22.9 billion is changing the narrative by pushing altcoins in a bullish direction irrespective of Bitcoin’s downward trend in the last few days.

More Ethereum News

Ripple price analysis: XRP/USD re-enters the $0.30-zone

XRP/USD re-entered the $0.30 zone after having two heavily bullish days in a row. Over the last two days, Ripple has gone up from $0.261 to $0.306, charting a 17.24% growth in price. The 4H chart shows us that XRP/USD went up from $0.281 to $0.306.

More Ripple News

Bitcoin Cash technical analysis: BCH/USD manages a hattrick of bullish days

BCH/USD has managed to chart three straight bullish days in a row. Bitcoin Cash has gone up from $318.35 to $325.30 today. The market had a bullish breakout from the triangle formation and is trending above the SMA 200, SMA 50 and SMA 20.

More Bitcoin Cash News


Bitcoin Weekly Forecast: Rangebound trading and September blues come upon the crypto market

Bitcoin finishes the week with marginal losses. The first digital currency recovered from the recent low of $9,886 but stayed in the red zone as of the end of the week.

Read the weekly forecast