Citing confus­ion in the market­s over whethe­r the produc­ts are exchan­ge-traded fundsNEW YORK: The US Securities and Exchange Commission said on Sunday it was immediately suspending trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs). The SEC said in a statement that trading in Bitcoin Tracker One and Ether Tracker One would be halted in the United States until at least September 20. Bitcoin sinks to two-month lowThe products promise to track the price of the cryptocurrencies, less fees. The SEC has taken a strict stance against letting ETFs tracking bitcoin and other cryptocurrencies come to market. Some industry experts, including the largest ETF provider BlackRock, have called for regulators to standardize the terms used to describe ETFs and other kinds of investment products.

Source: The Express Tribune September 10, 2018 06:56 UTC