Bitcoin Tracker One, Ether Tracker One Trading Suspended

Bitcoin Tracker One, Ether Tracker One Trading Suspended

Bitcoin Tracker One, Ether Tracker One Trading Suspended

$CXBTF, $CETHF

  • Bitcoin is still viewed with a jaundiced eye by Wall Street business titans.

The Securities and Exchange Commission announced Sunday suspensions in trading of the securities Bitcoin Tracker One CXBTF, -2.38% and Ether Tracker One CETHF.

In a statement, the SEC said trading was suspended as of 5:30p. EDT and will continue until 11:59p, 20 September.

The suspension was ordered because of “confusion amongst market participants,” the SEC said.

Bitcoin Tracker One started trading as an ETN(exchange-traded note) in August and was seen by some as the closest thing to an exchange-traded fund for Bitcoin. T

he SEC has repeatedly denied applications for Bitcoin BTCUSD, ETFs.

Currently, Bitcoin is trading at 6,289.9102,+96.6304, or +1.56%, as of 5:43a BST,  the market is open

It was a difficult week for many of the world’s leading digital currencies, as almost all of the Top 10 coins and tokens were down into the weekend.

Bitcoin last week erasing previous gains and falling back to the mid-6,000s.

Ethereum, though, may be the bigger story, as ETH has been falling for weeks. 2nd-largest cryptocurrency by market cap is down to just over 218 late Friday the lowest level that it has been at in months.

Other top coins like XRP, Bitcoin cash, and EOS have all fallenalong with the biggest names in the market.

Tether, linked to USD, made slight gains over the week, but most of the other tokens remain coupled with Bitcoin, falling as the crypto leader does.

One of the biggest and also most puzzling stories of the week has to do with Goldman Sachs.

After months of speculation and hints, Goldman Sachs (NYSE:GS) appeared to put to rest the idea of its launching a cryptocurrency trade desk in the foreseeable future earlier this week. But, a senior-level Goldman executive later indicated that the report of the bank’s plans to shift away from a crypto desk were “fake news.”

If the original bit of Goldman news was what sent cryptocurrencies spiraling for the rest of the week, the “fake news” claim did not bring on a a resurgence in value.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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