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SEC Will Review ETFs Proposals Again This November

The USA SEC (Securities and Exchange Commission) will review ETFs proposals soon, according to a timeframe that they themselves established when reviewing some applications and giving some more time for people to express their opinions about cryptocurrency based investments options. The SEC has denied every application for this kind of fund basing itself in the instability of the cryptocurrency market and the ease of its manipulation. After September 5 it should have to make a decision yet again.

SEC Will Review ETFs Yet Again

The SEC Will Review ETFs applications for cryptocurrency again, in a move that seemed benevolent to the companies and exchanges proposing this kind of investment instruments that are designed to track the performance of some assets. However, it is unlikely that their opinions on it would change.
This is because most of the reasons that fueled their rejections before are still at large valid now. Not much of the cryptocurrency market has changed since, and this would be likely the reason for them to be rejected yet again. The cryptocurrency market seems to have stabilized a lot, but still, there are traces of instability in certain currencies.
Each denial comes with a message to file actions in support or against the SEC decision:

“Accordingly, IT IS ORDERED, pursuant to Commission Rule of Practice 431, that by November 5, 2018, any party or another person may file a statement in support of, or in opposition to, the action made pursuant to delegated authority,”

And the SEC will review these new filings and will decide to keep or to modify his decision on the subject at hand.

What Are EFTs And Why No Bitcoin ETF This Year

ETF’s are the hot word for cryptocurrency investment right now. They are being referred to as the necessary tool for institutions to get into the cryptocurrency market indirectly. Exchange traded funds are derivatives that can be used to follow the price of virtually anything, and its this characteristic what makes them ample enough to be open for cryptocurrencies.
Be it a commodity, a security or a stock, you can invest in it through an ETF. And these are traded on regulated markets, so they are protected by the laws that regulate normal trading markets. Cryptocurrency markets are still not regulated, and that is why it is probable that the SEC will not approve this kind of instrument, because it is based on crypto assets whose price can be manipulated with ease.