This section covers cryptocurrency ETFs, ETNs, trusts, funds, and other such products. For example, this section includes GBTC.

NOTE: The Bitcoin Investment Trust (GBTC) is a trust that holds Bitcoin. Shares of the trust can be purchased on the stock market. The trust holds about 170,000 bitcoins. Each share represents about .092 bitcoins (so if you own 10 shares, you own contracts that represent just under 1 bitcoin). In other words, GBTC isn’t a cryptocurrency. Instead, it represents ownership of a cryptocurrency held in a trust by the Greyscale investments.



SolidX ETF Postponed

The SolidX ETF was postponed by the SEC until September 30, 2018. This decision was expected Aug 16, but came Aug 7 instead. Although many were hoping for approval, an extension is notably not a denial. Also, a new service called Bakkt goes a long way to making the SolidX approval a non-issue.



Bakkt

Bakkt is an upcoming exchange by the Intercontinental Exchange ICE (the parent company of the New York Stock Exchange NYSE). Bakkt “will enable consumers and institutions to buy, sell, store and spend digital assets on a seamless global network.”




Did the Bitcoin ETF Get Postponed?

The CBOE exchange has submitted more than one proposal to the SEC to have Bitcoin ETFs listed. The SolidX shares ETF is on track for its August approval deadline. The Direxion ETFs submitted in January got a deadline extension until September. In short, one of the two deadlines was postponed, but the one that was postponed isn’t the one everyone is excited about.