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    [Breaking]: SEC Orders Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF) Trading Suspension

    [BREAKING NEWS]: SEC Suspends Trading in Bitcoin Tracker One (CXBF) and Ether Tracker One (CETHF)

    Just moments ago, the U.S. Securities and Exchange Commission (SEC) decided to issue an Order of Suspension of Trading in Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF). The information has been revealed by the SEC on September 9 with the Release No. 84063.

    The text informs that the suspension of these two instruments will be temporary. The suspension starts on September 9 and ends on September 20, 2018.

    The decision has been taken by the SEC because of ‘confusion amongst market participants regarding these instruments.’

    The Commission cautions investors about the situation and that they should carefully consider the foregoing information with all the information available issued by the company.

    The CXBTF instrument allowed customers to enter the virtual currency market without having to invest in the physical asset. The Bitcoin Tracker One is regulated and listed in Sweden and has been traded on the Nasdaq Stockholm exchange during three years.

    This investment option works as an American depositary receipt. An investor purchases the tokens and the asset will be available in US dollars. However, he actual processes are carried out in the local currency.

    This is not an ETF, but instead an ETN, which is a symbolic of a debt that the issuer supports. It allows interested individuals to gain exposure to Bitcoin in a regulated environment in Europe.

    Ether Tracker One works in a very similar way. It became available in 2017 as the first publicly traded, ether-based security available in a regulated exchange. The certificates provided are non-equity linked securities traded in the same manner as any other instrument on the Nasdaq exchange in Stockholm.

    In a matter of minutes, Ether (ETH) lost almost 3% of its value and Bitcoin (BTC) lost 1.7%.

    What will this mean for the upcoming Bitcoin ETF decision that will happen on or before September 30, 2018 for the Cboe VanEck SolidX Bitcoin ETF?

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    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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