SolidX Expected To Double The Bitcoin Price; Purposely Delayed By SEC, Again

The US Securities and Exchange Commission (SEC) has delayed the approval of what many expected to become the first Bitcoin ETF to operate on a major stock market. The SolidX Bitcoin ETF, an insurance-included mainstream Bitcoin trading instrument, was planned to be approved by the SEC by September 16, 2016.
Potential 240-day delay
SolidX Management LLC, the company behind the development and distribution of SolidX Bitcoin ETF, filed its Registration Statement with the SEC back on July 11, with rule changes submitted to the federal register for comment on August 2.
However, the SEC’s inefficient structure and process in approving ETFs in the market resulted in yet another 45-day delay, which can be extended by a further 90 days and then an additional 60 days. Considering that 45 days have already passed, the SEC’s inefficiency could lead to a potential 240-day delay, which may cost SolidX another 8 full months before its approval.

This post was published at Coin Telegraph on 2016-09-14.