Sirwin
Sirwin
Why does the SEC keep delaying ETF applications…. ?

Why Does the SEC keep delaying ETF applications…. ?


 

Hello My Friends; The world financial system has begun to reach its end. States are trying to find a way out. But they can't find a way out. Because they brought this situation on themselves. They know what the new order will be, but they are afraid... Because control will be lost from their hands. I would like to comment on the US Securities and Exchange Commission (SEC)'s constant postponement of ETF applications with my own thoughts...

If you're ready, let's start …

Briefly, what is Exchange-Traded Funds (ETF) ...?

It is an abbreviation for exchange traded funds, which are created to provide portfolio diversity and traded on stock exchanges. Exchange-Traded Funds (ETF) are a type of mutual fund that is traded on traditional exchanges. It includes assets such as stocks, commodities, bonds and cryptocurrencies.

Financial institutions began to increase ETF applications to respond to the increasing demand for cryptocurrency. By doing this, they are trying to expand their customer portfolio and also learn and understand blockchain technology. These organizations also know that the current financial system is on its way.

Just recently the SEC postponed all applications currently on its desk. Cryptocurrency investors were waiting for September 1, 2023 with great interest. This date was the deadline for the SEC's initial evaluation process of 7 applications. First came WisdomTree's decision to postpone the spot Bitcoin ETF application. It was followed by Invesco, Valkyrie, Fidelity, VanEck and Bitwise. BlackRock's application, which was considered to have a higher probability of approval, was postponed until the end. The latest BlackRock decision was announced and it was also postponed.

Accordingly, the new date for these applications is October 17, 2023. The SEC must make a decision on postponement, rejection or acceptance by this date at the latest. Because he doesn't know how to control cryptocurrencies. For this reason, he started to decide to postpone it constantly. Thus, it aims to ensure that institutions withdraw their applications and prevent new applications.

 

etf

 

The first fruit of this purpose; Bitwise, a company that provides services such as investment funds, indices and research in the cryptocurrency market, is withdrawing its application for an exchange-traded fund called "Bitcoin and Ethereum Market Cap Strategy ETF", which invests in Bitcoin and Ethereum futures contracts. The company made a new request to the SEC on this issue.

Counterattack; A spot Bitcoin ETF application was made from the company that manages $1.5 trillion. Franklin Templeton, a 75-year-old investment company, was also added to the companies that filed a spot Bitcoin ETF application with the SEC. Bravo, bold steps will continue...

My Last Words; Yes, my friends, as you can see, the SEC is constantly trying to delay the development of cryptocurrency markets by turning the tables. I am specifically saying delay... The only place to go is blockchain technology and its natural product, cryptocurrency markets...

 

As I always say; Listen to everyone, decide for yourself...

 

Luck does not help those who do not want to work. Sophocles

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Journey To The Cryptocurrency Ocean
Journey To The Cryptocurrency Ocean

"Keep your eyes on the stars, and your feet on the ground."

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