Canaccord Genuity: The SEC Will Not Approve Bitcoin-ETF This Year
Analysts of the largest investment company in Canada said when a new financial instrument would appear on the crypto-currency market.
According to the analysts of Canada’s largest investment company Canaccord Genius, many investors consider bitcoin-ETF from VanEck and SolidX to be the most serious candidate for approval by the US securities and exchange Commission (SEC). They published a quarterly review – “Blockchain and digital assets” – in which they drew attention to the new investment tool.
According to experts, the community is optimistic about the possibility of launching bitcoin-ETF, so the postponement of the case to September 30 had such a negative effect on the exchange rate of digital money. Analysts believe that next month the SEC will postpone the meeting again.
Canaccord Genuity noted that such securities already existed outside the United States. In Sweden, for example, Bitcoin Tracker One has been trading since May 2015. Currently, Canada is developing its own exchange traded fund Evolve Bitcoin ETF.
On the night of August 8, the SEC postponed a meeting on the launch of bitcoin-ETF from VanEck and SolidX to September 30. After that, the total capitalization of the digital money market decreased by $26 billion within a few hours.