In this week’s daily editions of Bitcoin in Brief we reported about Coinbase increasing trading limits, Shapeshift acquiring Bitfract, Okex launching a white label platform called Coinall, and much more. The most commented-on article during the week covered the ‘Rich Dad, Poor Dad’ author, Robert Kiyosaki, which came out in favor of cryptocurrencies.

How Crypto Reacted to This Week's SEC Bitcoin ETF Delay


It was an expected result at an unexpected time.

The news broke on August 7 that the U.S. Securities and Exchange Commission (SEC) is kicking the can on its decision to approve or disapprove a proposed rule change that would let the Cboe BZX Exchange list a bitcoin exchange-traded fund (ETF). Now, the next deadline for something is September 30, though ultimately, the U.S. securities market regulator could push it forward again into 2019.

As CoinDesk reported previously, if approved, it would allow for the first-ever listing of a bitcoin ETF in the U.S., done in partnership between investment firm VanEck and blockchain startup SolidX. The two companies submitted their proposal back in June.

More broadly, the listing would be seen in some quarters as a sign of maturation for the cryptocurrency market and likely open the door for investors to gain exposure – albeit indirectly – to the nascent asset class.

Twitter yawns as market yells

The delayed decision was, as posts on social media suggest, largely expected by members of the crypto community.