Wealth Manager Canaccord: Bitcoin ETF Approval Most likely in 2019


The latest crypto-market report from the wealth management company Canaccord Genuity states that a long-awaited endorsement on an ETC (bitcoin exchange-fund) will probably not come until 2019.

In their update quarterly on cryptocurrencies, Canaccord Genuity, Canada's largest independent investment retailer in Canada, plunges into a series of topics, including the topic of security tokens and recent developments in spot cryptocurrency prices.

Yet it also addresses the popular theme of the bitcoin ETF, which the crypto-community has watched with renewed fervor following a proposed change of rules by the CBOE, which is trying to list such a product in collaboration with the money manager VanEck and the cryptographic startup SolidX.

And while recognizing the interest – and the hopes – of those supporting the ETF, Canaccord argues that the SEC will extend its decision period as far as possible until next March. On the contrary, the SEC could, in theory, make a decision as soon as this Friday, 10 August.

"And although VanEck SolidX Bitcoin Trust, seen by many as the most formidable candidate for potential approval, is due to a potential decision already starting this month, it is believed to a large extent that the SEC extends its deadline , in which case a decision can not be taken until March 2019 ", wrote the company.

And as Canaccord has tried to highlight, other products oriented towards investors of a similar nature are already available on the market, outside the United States, namely

"In the meantime, we note that other titles based on bitcoins (for example , Bitcoin Tracker One) are available for trading on regulated exchanges as early as May 2015 in Sweden, while north of the border, Canada is working on its ETF bitcoin product, the Evolve Bitcoin ETF, "wrote the ;company.

Image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that is committed to the highest journalistic standards and adheres to a strict set of publishing policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in criptovalute and blockchain startups.

[ad_2]Source link