The Cryptoverse: New Bitcoin ETF Deadline Announced
In this episode of The Cryptoverse, Host Chris Coney talks about the latest news from the SEC regarding the pending Bitcoin ETF applications. It looks like the regulatory agency has extended its self-imposed deadline to November 5, 2018.
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Bitcoin ETF Deadline Extended to November 5
According to Coney, the SEC has outlined a review period for potential rule changes regarding nine pending Bitcoin ETF applications. This review period will reportedly last until November 5, 2018, after which the public will no longer be able to submit comments.
This announcement comes just a couple weeks after the SEC delayed their ruling and opened this additional review period. In the first announcement, the SEC said the new deadline could be as late as December, and then announced a specific date of October 26.
Now, November 5 will supposedly be the final deadline, after which a decision regarding the ETF applications will be made.
Coney pointed out that this new deadline coincidentally lines up with the end of the current market cycle for bitcoin, after which new — hopefully bullish — technical signals should emerge, guiding the price trajectory.
Optimistic, Coney hopes these two pending events will lead the cryptocurrency into the next major bull market.
Other Top Stories
In addition to the ETF news, Coney also looked at a few other top stories that recently arose.
Most notably, Coney brought up the recent news from Bitsonline that over $8 billion USD has left Russian banks in just two months. This monetary drain is part of a massive string of withdrawals from government-backed Russian banks. Only a small percentage of these withdrawals are returning to Russian banks in the form of rubles.
Reportedly, one of the main causes for these withdrawals comes from Russian citizens’ disappointment with the threat of new sanctions placed upon the country by the U.S.
About The Cryptoverse
On The Cryptoverse, host Chris Coney explores the hottest topics in the blockchain and cryptocurrency world. Coney provides his viewers with his thoughts on the subjects, while also presenting the facts so his audience can come to their own conclusions. To see Coney tackle the biggest topics of the day, subscribe to The Cryptoverse on YouTube.
Image via Chris Coney//The Cryptoverse