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Title: [2017-01-07] SEC Delays Decision on SolidX Bitcoin Trust Post by: Gembul on January 08, 2017, 03:17:14 AM News Bitcoin - SEC Delays Decision on SolidX Bitcoin Trust
Blockchain technology company, SolidX Partners Inc, first filed a registration statement (Form S-1) with the SEC on July 11, 2016, proposing to launch its SolidX Bitcoin Trust. According to the company’s letter to the SEC in November last year: The Trust is functionally almost identical to existing physically backed exchange-traded products, which have become an important component of the market. The Sponsor submits that it is in the public interest to permit the development of the Trust, which will enable a new and compelling investment option to investors. SolidX Bitcoin Trust will not be actively managed. There is no minimum investment. “An investor may hold as little as a single share, which represents approximately one tenth of a bitcoin,” the company told the SEC. In addition, the company has secured “significant insurance coverage for the bitcoin that will be held by the Trust.” READ MORE >>> https://news.bitcoin.com/sec-delays-decision-solidx-bitcoin-trust/ (https://news.bitcoin.com/sec-delays-decision-solidx-bitcoin-trust/) |