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
1.05
Trade+0.08% -
USD/JPY
156.36
Trade-0.07% -
GBP/USD
1.27
Trade+0.03% -
AUD/USD
0.65
Trade+0.04% -
GBP/JPY
198.19
Trade-0.04%
-
Microsoft Corporation
427.06
Trade+0.11% -
Tesla, Inc.
311.18
Trade-4.81% -
Coinbase Global, Inc.
278.82
Trade-3.45% -
Shopify Inc.
109.09
Trade-4.51% -
NVIDIA Corporation
146.89
Trade+0.16%
-
Gold
2569.65
Trade+0.06% -
Crude Oil WTI
68.09
Trade-0.53% -
Crude Oil Brent
71.9
Trade-0.41% -
Silver
30.52
Trade+0.43% -
Natural Gas
3.01
Trade+0.05%
-
US 100
20807.18
Trade-0.17% -
GER 30
19185.85
Trade-0.01% -
US 2000
2334.4
Trade-0.17% -
US 30
43687.5
Trade-0.14% -
US 500
5940.65
Trade-0.12%
-
Daily Junior Gold Miners Index
39.83
Trade+1.51% -
Valkyrie Bitcoin Fund (BRRR)
24.76
Trade-4.26% -
Bitwise Bitcoin ETF (BITB)
47.64
Trade-4.24% -
S&P 500 ETF
593.39
Trade-0.68% -
20+ Year Treasury Bond ETF
90.35
Trade-0.21%
Your capital might be at risk
Related posts
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
India Taking Back Control of Their Data Against Digital Gangsters?
What should you learn next? Turn the wheel to find out!
