SEC delays decision on SolidX Bitcoin ETF

The US Securities and Exchange Commission (SEC) has delayed the approval of SolidX‘s request to list a bitcoin ETF on the New York Stock Exchange.

The SolidX Bitcoin ETF, an insurance-included mainstream bitcoin trading instrument, was planned to be approved by the SEC by September 16, 2016.

“The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change,” said SEC deputy secretary Robert W Errett.

If the SEC approves the SolidX Bitcoin ETF, experts presume that it will affect Bitcoin the same way precious metals like gold and silver were affected when ETFs for commodities were launched in the mid-2000s.