In this cryptocurrency news update, we look at the current market which has plummeted in the last 24 hours. All the leading cryptocurrencies have taken a big hit, and all are trading at discounts from yesterday. Bitcoin is down by 7.7% in the last 24 hours, and is trading at $6,512 at the time of recording the video. The reason for this big drop is the SEC’s announcement to postpone the decision about the listing of Bitcoin ETF. The SEC has delayed this decision till September, and investors will only know only next month whether the Bitcoin ETF will be traded on the CBOE BZX exchange.
Exchange Traded Funds or ETFs are financial products that can be trade don a stock market just like stocks. Bitcoin ETFs are a great way for investors to gain exposure to this volatile asset class. SEC’s announcement follows the rejection of the Bitcoin ETF proposed by the Winklevoss twins.
SEC Postpones Decision on Bitcoin ETF Listing to September: https://www.bloomberg.com/news/articles/2018-08-07/sec-postpones-decision-on-vaneck-bitcoin-etf-to-september
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