Bitcoin ETF Plans Hit With Regulatory Setback

Carmela Tim

Oct 2, 2017
The U.S. Securities and Exchange Commission (SEC) has dealt Bitcoin ETF (exchange-traded fund) proponents a new hurdle they must overcome before they can receive regulatory approval to begin the process of listing their funds on public exchanges.

Earlier this week, VanEck Vectors ETF Trust submitted a letter to the SEC withdrawing its application for a Bitcoin ETF. In the letter, VanEck noted that SEC staff had indicated the agency would not review a fund application if the “underlying instruments in which the fund intends to primarily invest are not yet available.”

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