What will happen to the market. The SEC has suspended trading in the ETN scriptability

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The Commission on securities and stock exchanges of the USA said that many investors are confused because they confuse exchange-traded notes exchange-traded funds (ETFs)

Trading in exchange-traded notes (ETN) Bitcoin Tracker One and Tracker Ether One, the company XBT Provider AB, Swiss office of the British firm CoinShares Holdings, suspended until September 20. This decision was taken by the Commission at the securities and exchange Commission (SEC), in connection with the confusion among market participants who confuse this tool with the ETF.

The financial regulator will not affect the ETN trade on exchanges located outside the United States. The SEC explained that it was necessary in the interests of companies to protect investors.

“Application of the broker-dealer in the offer and sale of these financial products in the U.S. and also on certain trading websites, they are described as “exchange traded funds” (ETF). Other public sources tools are referred to as the “exchange notes” (ETN). The Issuer, in turn, in stories of their own calls them “not related to stock certificates”, — said the representatives of the Commission on securities and stock exchanges.

In mid-August on ETN cryptocurrencies that were available on the Nasdaq Stockholm in 2015, appeared on the American market. U.S. investors got an opportunity to work with bitcoin and live with a new investment vehicle.

More news on cryptocurrency can be found in our telegram channel RBC-Crypto.

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