SEC May Approve CBOE's BTC-ETF

Anonymous source says that 'approvals will come, it is more a matter of Q4 2018 or Q1 2019'
06 August 2018   646

On August 10, a meeting of the Securities and Exchange Commission (SEC) will take place, at which officials will determine the fate of VanEck SolidX Bitcoin Trust, approving or refusing to change the rules of trade at the Chicago Option Exchange (CBOE). This is reported by Bitcoin Exchange Guide.

It is noteworthy that CBOE also intends to create a bitcoin-ETF, which will trade in shares of SolidX, the estimated price of which will be 25 BTC apiece.

A source in the SEC, who asked to remain anonymous, stressed that the agency is interested in approving the application from the CBOE.

The Gemini decision was expected from those in the know and could have easily been predicted. Again, this stuff is more about timing than anything else. Approvals will come, it is more a matter of Q4 2018 or Q1 2019. And as I said before, that will open up the door to more crypto-based product submissions.
 

Source from SEC

The unnamed CBOE representative also believes that the close relationship between the exchange and the regulators will have a beneficial effect on the outcome of the meeting.

We still believe that approval of our Bitcoin ETF product is a near certainty. Just a question of timing and potential administrative delays.
 

Anonymous Source

Previously, VanEck and SolidX filed a joint application for the creation of VanEck SolidX Bitcoin Trust, which will be immune from theft and loss of access to funds.

It will also be tied to a new index from VanEck, which instead of exchanges will collect the price of bitcoin from US-based over-the-counter (OTC) platforms.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   96

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.