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SEC Delays Bitcoin (BTC) ETF Decision

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Bitcoin ETF

The new statement from the US SEC (Securities and Exchange Commission) claims that the decision whether or not to approve Bitcoin ETF will be delayed until September 21, 2018. The reviewing of the request will effectively put five other decisions on hold for now.

The SEC delays BTC ETF decision once more

Requests for Bitcoin ETF have flooded the US SEC in the last several months, and the Securities and Exchange Commission is under a lot of pressure to provide an answer. Instead of doing so, they released a new public document, claiming that the Commission finds it appropriate to postpone the decision, and review the requests once more. The new date of the decision appears to be September 21.

This is a move that a lot of people actually expected, and while many would love to see BTC ETF arrive sooner, rather than later, a lot of people still think that the SEC will not be comfortable with allowing it just yet. Some claims say that it is too early and that 2019 has much better odds of seeing the ETF approval.

Winklevoss twins ETF request denied

The recent speculation regarding the potential ETF approval has had large consequences, even if nothing actually happened. The speculation actually led to an increase in Bitcoin’s price, which hit $8,200 in only a few days. Soon after, however, the SEC decided to reject the ETF request submitted by the Winklevoss twins.

This has disappointed many, and Bitcoin suffered the most. Currently, its price is going down once again, and it is at $7,400. This is also the second time that Tyler and Cameron Winklevoss attempted to get the SEC to approve their Bitcoin ETF request and the second time that they were rejected.

Many have compared this situation to a decade and a half old controversy regarding the twins and Facebook. Back then, they accused Mark Zuckerberg of stealing their idea. On the other hand, many believe that the twins are extremely innovative when it comes to thinking up various concepts, but that they have a problem when it is time actually to execute them.

Because of this, one popular opinion claims that, even though their BTC ETF requests are continuously denied, someone else might submit a request that will actually get approved. There is still a decent chance for this to happen, and the crypto community is currently waiting for September 21st to see whether or not will we get the next Mark Zuckerberg.

ETF might bring BTC price to new heights

Another opinion regarding the current Bitcoin ETF issue came from Spencer Bogart, a partner at Blockchain Capital. Bogart has been a very vocal Bitcoin supporter recently, with a notable bullish tone that came as soon as Bitcoin went up a few weeks ago. He recently stated that there are many catalysts that might allow Bitcoin’s price to go further up and that BTC ETF is definitely one of the biggest ones.

Even though the Winklevoss request got denied, there are still others that the SEC might decide to approve. If that happens, the current drop in price will soon become the thing of the past, and BTC might skyrocket once more. Bogart also stated that the SEC’s time is running out and that they need to get on board if they want to stay relevant.

“The cat’s out of the bag,” he said, “[i]nnovation is going elsewhere if the SEC [U.S. Securities and Exchange Commission] doesn’t get on board soon.”

For now, the SEC decision has been postponed, which means that a few more weeks of waiting are to be endured. After that, pretty much anything can happen.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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