The Securities and Exchange Commission postponed its decision on whether it would approve a bitcoin exchange-traded fund (ETF) proposed by VanEck and SolidX.
All cryptocurrency markets fell as a result. Bitcoin was down around 5%, trading at just under $6,300. Its value had fallen over $9 billion.
Investment firm VanEck got together with Solid X, a financial service company, to launch an ETF that is backed by actual bitcoins rather than futures. An ETF is a financial product that tracks the price of an asset and is listed on an exchange. It means that investors don’t have to buy the underlying asset.
This is VanEck’s third attempt to push a bitcoin ETF through, having been rejected by the SEC twice previously. This time, the SEC said that it is pushing out its decision until September 30.
Bitcoin, the world’s largest cryptocurrency by market capitalization or value, has fallen dramatically from the near $20,000 record high it hit in December 2017. But bitcoin has recovered from June, when it fell below $6,000. And interest in the virtual currency appears to have increased. Bitcoin’s share of the entire cryptocurrency market is at its highest level this year and near where it was when the digital coin hit its highest price level in history.
2 min
Table of contents
MOST TRADED ASSETS
- Binary Options
- Digital Options
- Forex
- Stocks
- Indices
- Commodities
- ETFs
-
EUR/USD
1.04
Trade+0.09% -
USD/JPY
157.75
Trade+0.01% -
GBP/USD
1.26
Trade+0.24% -
AUD/USD
0.62
Trade-0.11% -
GBP/JPY
198.27
Trade+0.26%
-
JinkoSolar Holding Company Limited ADR
25.55
Trade-3.79% -
Microsoft Corporation
438.28
Trade-0.27% -
Tesla, Inc.
454.67
Trade-1.4% -
NVIDIA Corporation
139.93
Trade-0.07% -
Apple Inc.
259.16
Trade+0.14%
-
Gold
2621.27
Trade-0.45% -
Crude Oil WTI
70.12
Trade+0.81% -
Crude Oil Brent
73.42
Trade+0.83% -
Natural Gas
3.31
Trade+2.27% -
Silver
29.48
Trade-1.35%
-
US 100
21654.93
Trade-0.36% -
US 500
6012.12
Trade-0.4% -
GER 30
19913.65
Trade+0.11% -
US 30
43141.74
Trade-0.41% -
JP 225
40381.5
Trade+1.5%
-
S&P 500 ETF
601.26
Trade+0.28% -
UltraPro Short QQQ
28.01
Trade-0.66% -
Daily Junior Gold Miners Index
37.66
Trade+0.69% -
Gold Miners ETF
34.47
Trade+0.2% -
20+ Year Treasury Bond ETF
87.8
Trade+0.68%
Your capital might be at risk
Related posts
How To Short Sell Crypto: Making Profits in a Bear Market
2 stars of the crypto market: Bitcoin vs. Ethereum
Day Trading Cryptocurrencies on IQ Option
Cryptocurrency News: Where Are We Headed?
Crypto Trading: Still Hot or Not?
Trading CFDs on Crypto with IQ Option
Bitcoin Technical Analysis: July 2020. Bulls or Bears?
Bitcoin Technical Analysis for July 2019
What should you learn next? Turn the wheel to find out!
