This 's the Bitcoin ETF Demo Offered to the SEC Last Week

Historically, the demonstration argued, the approved commodity-trust exchange-traded products (ETPs) have been”well-established, important, regulated markets” for trading futures on the underlying commodity like silver and gold.
The document mentioned the SEC’s comment too:
With that said, the demonstration made it crystal clear the”major changes” in bitcoin and its particular own market structure have been created since then, by way of example, multiple derivatives markets are now available for bitcoin like CME bitcoin futures, along with Cboe bitcoin futures.
“The Commission notes bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of considerable size may grow. If such markets grow, the Commission could consider whether a bitcoin ETP would, based on the facts and conditions then presented, be consistent with the requirements of the Exchange Act”

The General Public document, dated August 1, also shows that agents from SolidX, Cboe BZX Exchange, VanEck Securities Corporation and also Patomak Global Partners satisfied with the agency on July 31. The meeting attracted officials from Several SEC offices, including the Division of Trading and Markets, the Division of Corporation Finance and the Divison of Economic and Risk Analysis, according to the memorandum.

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While the document itself doesn’t provide a blow-by-blow of the meeting, it will offer insight to the arguments being made in favor of their bitcoin ETF, such as”significant changes in merchandise, market structure and entire conditions since March 2017 disapproval” — speaking to the decision made last year with regard to SolidX’s prior proposal.
The SEC construction in Washington D.C. image via Shutterstock

Published at Tue, 07 Aug 2018 18:00:30 +0000
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The information is notable given the SEC is expected to issue some kind of conclusion that month on SolidX along with VanEck’s projected bitcoin ETF, even though a decision to punt its approval or disapproval forward could direct to the process stretching for additional months.

The Securities and Exchange Commission (SEC) recently released a demonstration given to agency staffers by crypto startup SolidX in late July, a movement that comes days before an expected decision on its own bitcoin exchange-traded fund (ETF).

“All of the above are markets regulated by the CFTC (the U.S. Commodity Futures Trading Commission) and are rid products,” the demonstration added.

Watch the full demonstration document below: