Canaccord: it is more likely that the SEC will approve the bitcoin ETF in 2019
The largest investment company of Canada Canaccord Genuity believes that the anticipated community approval of the SEC the U.S. exchange-traded funds (ETFs) based on bitcoin in 2018 is unlikely.
In the quarterly review “Blockchain and digital assets,” the company drew attention to the fact that the last few weeks to the topic of the potential approval by the US regulators, bitcoin ETF was increased interest. But the blow to the optimism of the cryptocurrency community have caused the rejection by the Commission a second application of the Winklevoss brothers on the registration of the exchange traded Fund based on bitcoin, said the Canaccord analysts.
“Although VanEck SolidX Bitcoin Trust is considered by many as the most solid candidate for possible approval and is subject to potential decision this month, in large measure, we believe that the SEC will extend its deadline, in this case, the decision cannot be made until March 2019”, the review says Canaccord Genuity.
The investment company also drew attention to the fact that outside of the US-based bitcoin securities now available for trading on regulated exchanges. As an example, Canaccord gave the stock product Tracker One Bitcoin traded in Sweden in may 2015.
The company also noted that Canada is working to launch its own exchange traded bitcoin Fund — Evolve Bitcoin ETF.
We will remind as already it became known, the SEC deferred action on applications the CBOE and VanEck/SolidX launch a bitcoin ETF in September.