The news that the SEC has delayed action on the VanEck-SolidX ETF send the Cryptocurrency market into a free fall but even though the action was delayed, this ETF is different in two major ways from the previous proposals and could be eventually accepted.
The first is the price of admission. At $200k a share, its unlikely that many retail investors would buy into such a fund which limits it to mostly institutional and sophisticated investors. Seconds, and the reason I find this ETF to be more appealing than others, is that this ETF will be based on actual bitcoins and not futures, which are settled in cash. This takes out a lot of the manipulation of the price in my opinion. For these reasons, I think that this ETF has higher standing than the others and I am rooting for it to be the one that will be accepted.
