A NOTE FROM BOB
The last bitcoin ETF application left standing, the Bitwise Bitcoin ETF, is awaiting a thumbs up or down from the Securities and Exchange Commission. The deadline for a response is October 14th. If it is not approved, it won't be for lack of trying: Bitwise's managing director and head of research, Matt Hougan, told etf.com they have had five or six meetings with the SEC staff and the commissioners, submitted over 500 pages of research, and reviewed more than 50 comment letters around the application. The ETF would be physically backed, and it proposes to hold bitcoin with an insured regulated third-party custodian.
Another pot ETF? Yep. The Global X Cannabis ETF (POTX), the seventh pot ETF on the market, debuted last week. But only the ETFMG Alternative Harvest ETF (MJ) has gathered any significant assets: just over $800 million.
SEC simplifies some ETF regulations. Last week the SEC adopted a new rule designed to modernize the regulation of exchange-traded funds, claiming the new rules will facilitate competition and innovation, provide more choice for investors, and allow ETFs to come to market more quickly. A key benefit for investors: issuers will be required to publish daily portfolio holdings on their websites.
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Kamis, 03 Oktober 2019
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