The Chicago Board Options Exchange (CBOE) and VanEck refiled their Bitcoin exchange-traded fund (ETF) application. But, there likely won’t be a Bitcoin ETF by the end of the year and possibly by the year’s end. On January 31, as CCN reported, VanEck announced that it submitted its newly drafted Bitcoin ETF application to the U.S. Securities and Exchange Commission (SEC). The VanEck SolidX Bitcoin ETF proposed rule-change has been submitted by CBOE. Hard work by all teams involved. Public document: https://t.co/X25lOPjiFS pic.twitter.com/C9FP4adDE8 — Gabor Gurbacs (@gaborgurbacs) January 31, 2019 Why There Will be No Bitcoin ETF Until the Year’s End
Bitcoin investors are abandoning crypto in favor of traditional commodities like gold amid the prolonged market slump. That’s the observation of Jan Van Eck, the CEO of investment management firm VanEck Associates. Van Eck says this is a reversal of the trend he saw in 2017, when the then-sizzling bitcoin pulled demand from gold during the crypto bull market. “I do think that bitcoin pulled a little bit of demand away from gold in 2017,” Van Eck told CNBC (video below). “Interestingly, we just polled 4,000 bitcoin investors. And their No. 1 investment for 2019 is actually gold. So gold
Cboe BZX Exchange has withdrawn its filing with the U.S. Securities and Exchange Commission (SEC) for Vaneck Solidx bitcoin ETF. The U.S. government is currently shut down and the ETF could have been automatically approved had it not been withdrawn. Vaneck says that the withdrawal is temporary as it is actively working to “build appropriate market structure frameworks for a bitcoin ETF.”
By CCN.com: Investment manager VanEck remains confident about its bitcoin ETF application, despite the US government shutdown. Why? Because the firm believes it has laid a robust foundation for the VanEck/SolidX Bitcoin ETF to eventually win SEC approval. “I have done everything I can to build the right market structure for Bitcoin and digital assets,” VanEck’s director
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A digital asset strategist for New York-based veteran investment management firm VanEck is pretty irate that there is still no exchange traded fund for Bitcoin. In response to a tweet by Matt Odell, who was saying how Coinbase is risking its “regulatory moat” by addition of several altcoins over the past weeks, Gabor Gurbacs (image
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VanEck CEO Gabor Gurbacs has reacted furiously to a pronouncement by Allianz CEO Andreas Utermann calling for cryptocurrency to be outlawed. In a now deleted thread on his Twitter account, Gurbacs called out insurance giant Allianz for its treatment of his mother when she needed to make a claim following a serious car accident. Inferring that
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Gabor Gurbacs, a director and digital asset strategist at VanEck, isn’t happy with last week’s decision by the United States Securities and Exchange Commission (SEC) to extend the review period for the VanEck/SolidX Bitcoin ETF to February 27. Making matters even more frustrating for Gurbacs, San Francisco-based cryptocurrency exchange Coinbase has announced the listing of four small-cap ERC-20 tokens — Civic (CVC), […]
The Securities and Exchange Commission delayed making a decision on VanEck’s bitcoin ETF (exchange-traded fund) application until February 27, 2019. The postponement was largely expected, as 2018 draws to a close amid the ongoing crypto bear market. “The Commission finds it appropriate to designate a longer period within which to issue an order approving or
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Having met the U.S. Securities and Exchange Commission (SEC) in August 2018, officials of VanEck, SolidX and Cboe BZX Exchange have met with the Commission again, in the latest attempt to convince the regulator to approve the nation’s first bitcoin exchange-traded fund (ETF), according to an official presentation submitted to the SEC.
The firms gave the pitch to the SEC’s Division of Corporation Finance, Division of Trading and Markets, and Office of General Counsel.
Earlier this week, US Securities and Exchange Commission (SEC) Chairman Jay Clayton said at a conference in New York that to approve a Bitcoin exchange-traded fund (ETF), the SEC needs to see a market that is free of manipulation. Clayton stated: “What investors expect is that the trading in that commodity that’s underlying the ETF is
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MV Index Solutions (MVIS), a subsidiary of investment management firm VanEck, has announced the launch of MVIS Bitcoin U.S. OTC Spot Index (MVBTCO), a bitcoin-based index and the first one that monitors the performance of bitcoin across established over-the-counter (OTC) platforms in the U.S., according to a company statement.
The index will cover the spot price of bitcoin from these OTC platforms: Circle Trade, Genesis Trading and Cumberland.
MV Index Solutions helps to develop, license and monitor asset classes such as fixed income markets, equities and more, with the use of investment indices. The MVBTCO, which will track just bitcoin, increases MVIS’s portfolio to 24 digital asset indices.
MV Index Solutions, which develops a selection of pure-play and investable indices, announced this week that it has launched the MVIS Bitcoin US OTC Spot Index (MVBTCO), a new Bitcoin index that pulls from major OTC liquidity providers, including Circle Trade, Cumberland and Genesis Trading. MV Index Solutions is a VanEck company, the group behind the Cboe VanEck/SolidX ETF […]
Gabor Gurbacs is confident that the approval of a bitcoin exchange traded fund (ETF) is inevitable. And he’s optimistic that the VanEck SolidX Bitcoin Strategy will be the first to deliver one to the world.
The director of Digital Asset Strategy at VanEck/MVIS, Gurbacs, as of late, has become a leading voice on the space’s ETF pursuit at a time when industry chatter on the topic has never been louder. If you haven’t found him extolling the benefits of a bitcoin ETF on Twitter, you may have come across his interviews on Anthony Pompliano’s podcast and Ran Neu-Ner’s Crypto Trader show for CNBC Africa.
A bitcoin ETF could attract billions of dollars in new investments, so the Securities and Exchange Commission (SEC) should treat pending proposals as an opportunity to regulate the crypto market, said crypto exchange-traded fund advocate Gabor Gurbacs. Gurbacs, the director of Digital Assets Strategy at VanEck, made this claim during an interview with CNBC Africa’s
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SEC Commissioner Kara Stein says a Bitcoin ETF approval will not happen until applicants meet a set of key criteria – which has been mitigated, if not resolved according to VanEck.
Are We There Yet?
As the end of 2018 draws near, it increasingly seems that the SEC holds the key to the cryptocurrency market success. Most conversations regarding Bitcoin price revolve around a long-awaited approval of a Bitcoin ETF, and investors have unintentionally mandated that this must occur either in Q4 of 2018 of Q1 of 2019.
The United States Securities and Exchange Commission (SEC) have had a huge burden to carry this month, that is, the deadline for a decision to be made on the VanEck-SolidX Bitcoin ETF application. Frustratingly, a decision was expected to be made this month as the deadline had already been further delayed, though it now seems apparent that the SEC do have the capacity to just keep extending deadlines, leaving the Bitcoin community in limbo.
This new extension will mean no decision needs to be made until the 29th of December 2018.
Investment management firm VanEck has lobbied the US Securities and Exchange Commission (SEC) in a fresh attempt to interest the regulator in authorizing a Bitcoin exchange-traded fund (ETF).
VanEck: Proposed ETF ‘Consistent’ With Law
In a letter dated July 20, VanEck, which earlier this month announced it planned to collaborate with fellow operator SolidX to launch a fund, reiterated its belief that the industry was both ready and able to support it.