New ETF proposal for Bitcoin and Ethereeam submitted to the SEC | CryptoNews



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A new proposal for a Quoted Investment Fund, in English Exchange Traded Fund (ETF), based on Cryptoclaims, was filed with the US. There. Securities and Exchange Commission. (Sec). According to an official publication, the prospectus was received on Thursday, May 9.

This time there is a question ETF is based on multiple cryptocytesDesigned by Starter Crescent, Crypto Index LLC is a New Jersey hedge fund. The Instrument, sponsored by the United States Commodity Funds LLC (USCF)

According to the proposal, this investment fund "will track the performance of a weighted market capitalization market of Bitcoin and Ether", both individually and collectively. In this way, it would offer investors "exposure to cryptoclaims through a public vehicle," notes the prospectus.

The ETF would be called the USCF Crescent Cryptocravalvy Index Fund and would use the XBET symbol. The document He defines it as an exchange fund And notes that the shares are expected to be traded on the New York Stock Exchange just like any other security is traded.

According to some reports, if the proposal was accepted by the CEC, Crescent and USCF expect the ETF shares to recover in the year, so the initial proposal was $ 20 per share. However, the CEC has so far rejected multiple bitcoin etf proposals.

In August of last year, CEC denied nine bitumen market-based ETFS applications, saying it did not comply with the regulations to prevent "fraudulent acts and manipulative practices".

Meanwhile, the US. There. Regulator has Pending the decision of two other bitcoin etfAt the beginning of 2019, he presented at BTIVISE and VANEC. The request was postponed a couple of times. The next day for the CEC to present its response to the ETFs is set for May 16, however, although new extensions may be requested before the final release.

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