Does an increasing number of Bitcoin ETFs increase the odds that the Securities and Exchange Commission will approve at least one of them, opening the gates to more?
That’s what cryptocurrency enthusiasts are hoping for, but last week the SEC decided to delay a decision on a rule change that would have paved the way for the VanEck Bitcoin Trust to trade on the Cboe.
Five days before the first deadline for the decision, the SEC postponed it for another 45 days, which is an option it always had. The new deadline is June 17, 2021, at which point the SEC will ll “either approve or disapprove the application or or institute proceedings to determine whether to disapprove, the proposed rule change,” according to the agency.
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The manager of the world s first Bitcoin fund to trade on a major exchange is to list it on Nasdaq Dubai.
3iQ Corporation, which listed The Bitcoin Fund ETF on the Toronto Stock Exchange in April last year, expects to begin trading the fund in Dubai within the current quarter after gaining approval from the Dubai Financial Services Authority. We re aiming for listing in the second or third week of May and trading by the end of May, Frederick Pye, chairman and chief executive of 3iQ told
The National. Listing the fund on a Middle East exchange will also help in terms of trading times, as Bitcoin trades for 24 hours a day, seven days a week, he added.