Bitcoin ETFs Take Another Crack at the SEC

CBOE Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term futures began trading yesterday.

Two firms have filed applications with the Securities and Exchange Commission to create Bitcoin-based exchange-traded funds.

The two firms are REX (Connecticut), and VanEck (New York). They filed their applications on the 8th and 11th of December, respectively.

An ETF is a fund which trades like a stock, but owns the underlying asset of the stock. Shareholders do not own the asset directly, but are entitled to a proportion of the profits.

In this particular case, the firms do not intend to hold bitcoins, but rather to trade futures contracts and other derivative products, according to a report by CryptoCoinsNews yesterday.

Earlier this year, the SEC rejected a similar application from the Winklevoss twins, creators of the Bitcoin exchange Gemini. The rejection cause the price of Bitcoin to temporarily dip and provided a boost to other Altcoins Altcoins Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Read this Term. The twins were not the only ones left rejected by the US regulator, which said at the time:

“Based on the record before it, the Commission believes that the significant markets for bitcoin are unregulated. The commission notes that bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of significant size may develop.”

The result may be different now that Bitcoin futures have already started legally trading on a major US exchange. The answer, be it acceptance or rejection, is likely to have a considerable effect on the market.