The USA Securities and Exchange Commission has made a decision about creation of Bitcoin Trading Fund, but now, the decision implementation has been delayed. The implementation of the plan is postponed till the end of September this year, for now.
The ETF creation is seen by many as a step forward to mass adoption of cryptocurrencies and creation of some more security for cryptocurrency users. ETF securities should be already a regulated and very well managed asset.
The fund is the initiative of an investment company called VanEck and financial company called SolidX. It is even expected to be listen on the Chicago Board of Exchange BZX Equities Exchange. Now, the companies involved have two months more to implement the project.
For now, it is announced, that SolidX has received plenty of changes proposals to the rules and shares, and they all should be reviewed and considered. VanEck and SolidX announced the creation of physically backed bitcoin in the start of June, and the price for each share of the Trust was set to “just” 200,000 USD. Now, the entire project was delayed till the 30th of September.