NO. ETFs are not getting delayed. SEC Bitcoin ETF Update. THE FACT vs MEDIA MANIPULATION.
Recently, A news article from CoinDesk got published stating "SEC is Delaying the Decision on Bitcoin ETFs Until September" and without confirming the news with actual fact, FUD got the best of many people and everyone went crazy. The title was later changed to "SEC Delays Decision on Direxion's Bitcoin ETFs Until September". (Media manipulation at its best.)
https://www.coindesk.com/sec-delays-decision-on-direxions-bitcoin-etfs-until-september/
THE FACT: SEC is delaying a Different ETF. The one SEC is postponing was filed by Direxion Investments in January. That's a different one. Point to be noted that many investment firms file for ETF application. Only few will get accepted and approved.
None of the ETF proposals being postponed are from CBoE (VanEck and SolidX), which are currently under discussion by the wider crypto community. More than 100 comments for these ETF proposals have been submitted by the crypto community, and a decision may occur as soon as next month. 🚀
What is an ETF?
An ETF is basically a basket of securities that are bought and sold through a brokerage firm or stock exchange. ETFs are offered for almost all asset classes ranging from traditional investments to alternative assets like commodities or currencies.
The main benefit of an ETF is that it removes the need for investors to sign up on exchanges or wallets just to buy Bitcoin. With an ETF, the underlying assets are owned and traded by a fund. The Fund divides ownership of the cryptocurrency assets into shares, which are what investors’ actually claim ownership of at the end of the day. ETF shareholders receive a portion of the funds profits through dividends or earned interest paid.
