The Security and Exchange Commission (SEC), announced on Sunday through Twitter that they aim to suspend trading with the certificates Bitcoin tracker one and Ether tracker one.

At the moment, many of the discussions regarding cryptocurrencies, blockchain and initial coin offerings are about regulation. How countries, institutions and companies can participate in this exciting technology. When talking about investing, the SEC holds the wheel. They will be the one who decides if an ETF will be approved or not and many think that an approved ETF will lead big institutions to participate in the crypto space.

A few days ago Toshi Times covered the story that a new Pro-crypto SEC commissioner could change the tide. Adding two new commissioners could substantially change the SEC’s views on the upcoming ETFs. The much-anticipated decision on a proposed VanEck-SolidX trusted bitcoin fund was postponed until September, 30th.

They also decide what trading vehicles that will be allowed and the ones that will not. For a long time, investors have been able to trade the Bitcoin and Ethereum ETN. A tracker that allows investors to invest in the two cryptocurrencies movements without owning the underlying coin. A few weeks ago these ETNs even got allowed in the US which meant that many more investors could get exposure to the products.

”Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona”.

However, on Sunday the SEC announced that they would suspend the trading with the ETNs, Bitcoin Tracker One and Ether Tracker One exchange-traded notes, issued by XBT Provider AB, a Swedish-based subsidiary of the U.K. firm CoinShares Holdings. The suspension is just temporary since they need to figure out a few things according to the Twitter announcement.

“The Securities and Exchange Commission announced the temporary suspension of trading in the securities Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”) commencing at 5:30 pm EDT Sept. 9, 2018, and terminating at 11:59 pm EDT Sept. 20, 2018”.

The SEC wrote in the official order that there was some confusion since the trackers lack current, consistent and accurate information. This lead to confusion among market participants regarding the financial instruments and states that they act for the public interest and safety.

“The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-quoted company”.

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