New Crypto ETF submission and SEC deadline approaches for ETF update

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And we’ve got another ETF filed with the SEC. This one from

Crescent Crypto Index Services LLC, a subsidiary of Crescent Crypto Asset Management LLC, to track the performance of a market capitalization-weighted portfolio of bitcoin (BTC) and ether (ETH). Dubbed the USCF Crescent Crypto Index Fund (ticker symbol “XBET”), the ETF is sponsored by United States Commodity Funds LLC (USCF), which will invest XBET’s assets in the two portfolio cryptocurrencies.

The interesting thing about USCF, is that they’re a commodity pool operator, regulated by the CTFC and NFA, so they have experience dealing with regulation and compliance.

And this could be market moving news - great read about the upcoming SEC decision deadline, tomorrow, on Van Eck ETF submission. The 90 days ends tomorrow: Odds of delay, denial, and approval included. Strangely, the Van Eck submission went in the same day as the Bitwise ETF submission. The SEC delayed the Bitwise decision last week, but didn’t mention Van Eck at all. SEC has in the past, combined decision statements on various concurrently pending ETF submissions at the same time. Not this time.
Could be nothing… could be something. Keep an eye on BTC!

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@BillyBobPimpton

I don’t like crypto currencies, but I think you would appreciate the following information…If crypto is your thing.

The South African Reserve Bank wants to start their own crypto currency, backed by government. The long term goal is tax revenue, shutting down Bitcoin etc. by only allowing commercial banks to allow the Reserve Bank sponsored crypto currency.

It is still in it’s early stages and will be presented to the South African parliament later this year in an official capacity.

Maybe something to look at, or to laugh at…I don’t know enough about crypto to tell the difference.

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VanEck ETF postponed. Markets don’t appear to be reacting good or bad.

https://t.co/OB3TBgVGwg

Thanks for sharing. They are not the only ones. Venezuela has the Petro, but interest has faded, understandably.

I would say shutting down BTC would be tough, but if the govt controls the telecommunications industry, anything is possible.

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