SEC received a new application for the launch of cryptocurrency ETF

The company Crescent Crypto Index Services LLC has applied for the launch of a cryptocurrency index fund (ETF) on the NYSE Arca Stock Exchange, tracking Bitcoin and Ethereum quotes. The corresponding document is posted on the website of the US Securities and Exchange Commission (SEC).

The full name of the new ETF is USCF Crescent Crypto Index Fund (XBET ticker). Its launch is intended to be sponsored by the investment company United States Commodity Funds LLC (USCF), which is regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA).

At the end of March, the SEC once again postponed decisions on the launch of two Bitcoin-ETFs. One application was filed by VanEck and SolidX, which intend to achieve a listing of their index fund on the Chicago Options Exchange (CBOE), another – Bitwise Asset Management, which aimed at NYSE Arca. Deadline for consideration of applications expires on May 16.

Earlier, Bitwise Asset Management filed a report with the SEC, in which it accused unregulated cryptocurrency exchanges of falsifying 95% of trading volumes. This forced CoinMarketCap, the largest analytic resource, to develop a new toolkit to increase data transparency, but many community representatives accused Bitwise of actually pursuing its own selfish goals, rather than protecting the interests of the industry.

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