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Bitcoin and ethers as ETF? SEC receives new application | BTC-ECHO

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Another application for a crypto ETF is on its way to the starting line. The Crescent Crypto Index Services LLC. filed an application with the US Securities and Exchange Commission. They published the application on 9 May. The exchange-traded fund is designed to replicate the performance of Bitcoin and Ether. A decision of the SEC is still pending.

The ETF will bear the name USCF Crescent Crypto Index Fund. He is said to be traded on the NYSE Arca under the ticker symbol XBET. The sponsor will be the United States Commodity Funds (USCF). It is responsible for investing the assets of the Fund in the two currencies.

As usual for ETFs, the fund's passive investment strategy will be index-based. Crescent Crypto Index Services has created its own index for Bitcoin and Ether. This Crescent Crypto Core II Index (CCINDEX) promises a high degree of reliability. For this he will resort to a variety of data sources:

To weight each portfolio cryptocurrency, Crescent calculates market capitalization using data from a select subset of publicly available crypto currency exchanges and liquidity providers, including over-the-counter liquidity providers ("OTCs"), which provide a highly qualified subset of the global volumes of each portfolio. Represent cryptocurrency.

SEC takes his time

ETFs could be one of the ways to attract institutional investors to Bitcoin, Ether & Co. The crypto-community expects accordingly a permission. The SEC does not let it deter. In the recent past, she has received several applications for Bitcoin ETFs. However, there was no green light yet. Recently, the SEC adjourned the decision on a request from the index provider Bitwise.

Deferred is known not canceled. The hope remains that Bitcoin ETFs will see the light of day in the not-too-distant future. According to SEC member Robert J. Jackson Jr., it's just a matter of time. Continuing security concerns are the main reason for the delays. Jackson himself was optimistic. He believes that applicants could soon meet the high security requirements.

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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO , and should not be attributed to, CriptomonedaseICO .


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