We have just completed the first week of January 2017, and news is abundant!
In our article review this week, our pick of the week was found on Coindesk – “SEC delays Winklevoss Bitcoin ETF Again”.
Once ETF’s or Exchange Traded Funds are listed on the stock exchange, this will open up Bitcoin to thousands of traders world wide and they do not even need a Bitcoin wallet to trade with Bitcoin. We wait with baited breath for ETF’s to be listed as this will most certainly put a fire under the Bitcoin price!
“By the time Cameron and Tyler Winklevoss receive a final decision from the SEC on their long-proposed bitcoin exchange-traded fund (ETF), a new president will be leading the US.
Though an earlier 10th January deadline would have placed the decision by the SEC to approve or disapprove the Winklevoss brothers’ request, paperwork filed today now extends the deadline to 11th March.”
Click here for the full article on Coindesk
Taken from the article “The Commission has received seven comments from the industry. All of them were in favor of approving SolidX Bitcoin Trust except one. Ken I Maher’s short and abrupt message to the SEC urged the Commission to consider the risks of the bitcoin ecosystem.
Other letters to the Commission includes one submitted collectively by 30 industry leaders such as 21 Inc’s Balaji Srinivasan, Bitpay’s Stephen Pair, Bitstamp’s Nejc Kodrič, Blockchain’s Marco Santori, Circle’s Joshua Lim, and Coin Center’s Jerry Brito. They urged the SEC to approve SolidX Bitcoin Trust’s listing stating that:
Access to bitcoin exposure needs to be nondiscriminatory in nature: an investor should not be excluded from this asset class merely because they are unfamiliar or uncomfortable with the technological processes involved in safely procuring and holding bitcoin.
Denise Krisko, President of Vident Investment Advisory LLC, told the SEC “The trust will benefit investors and the broader Bitcoin ecosystem through access to a liquid and transparent product that will further drive this innovative and exciting technology.” Joseph Colangelo, President of Consumers’ Research, told the Commission that “Bitcoin has established itself as a significant new asset class,” stating “the SolidX Bitcoin Trust will protect U.S. consumers in a way that truly bears in mind the best interest of such consumers.”
Watch the video below!
What is an ETF – Exchange Traded Fund? Watch this short explainer video to learn more.
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