SEC suspends Bitcoin exchange-traded security

posted 12 days ago
A highly touted investment instrument that sought to appeal to US public markets investors looking for cryptocurrency exposure has just seen a setback. The US Securities and Exchange Commission has issued an order seeking to suspend the trading of the Bitcoin Tracker One and Ether Tracker One exchange-traded notes, issued by XBT Provider AB, a Swedish-based subsidiary of the U.K. firm CoinShares Holdings.

In the official order, the SEC cited a "confusion amongst market participants" based in the US as to the nature of the financial instruments as the reason for the move. The suspension is in effect as of today, and will last through September 20th.
Tags: bitcoin, news