SEC Suspends Two Crypto ETNs
The Securities and Exchange Commission announced trading suspensions of the securities Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF). These Swedish based Crypto ETNs – similar to ETFs – were suspended on the grounds of “confusion amongst market participants,” according to the SEC.
These securities came to the US last month as F-shares, which trade in US dollars that are settled, cleared and held in custody in its home market.
As the SEC continues its firm stance on regulating the crypto landscape to protect investors, this only adds to the list of its recent disapprovals and delays on crypto ETFs.
This halt has been put in place until just before midnight on September 20.