The Securities and Exchange Commission (SEC) has announced it plans to reconsider its decision to refuse the creation of ETFs based on the most popular crypto - Bitcoin.
Initially, the commission announced on Wednesday (August 22nd) that they had rejected 9 requests from three companies, saying that the products did not meet the requirements for creating and launching new ETFs.
A day later, Reuters informed the state commission that they had announced their intention to reconsider their applications, but no deadline was set for their response.
Exchange traded funds are financial instruments that follow a particular stock index or a separate commodity, such as gold, oil, etc.
Given that the SEC really endorsed the creation of the ETFs on a Bitcoin and then on another crypto, this, according to experts, would be the most important step towards fully legalizing the trading of digital currencies.
The refusal initially lowered the prices of the Bitcoin and the other crypto, but the SEC's subsequent decision again had a positive effect on their quotations.
At the moment, the cost per 1 Bitcoin is $ 6739.
image source - Instagram
@crypto-rev, I'm waiting for the continuation of the topic