Bitcoin ETFs still a mirage as SEC delays decision yet another time-Computerfanfield

The US Securities and Exchange Commission (SEC) is still not keen on approving Bitcoin exchange-traded funds (ETF).

In a document published on May 20, the watchdog revealed it has delayed making a decision on an ETF proposal put forth by the VanEck SolidX Bitcoin Trust.

Instead, the SEC “is instituting proceedings” to determine whether it should approve the filing. For the record, such institution of proceedings does not “indicate” the commission has “reached any conclusions.” Rather, it’s simply a call for more input from interested parties.

“Interested persons are invited to submit written data, views, and arguments regarding whether the proposal should be approved or disapproved by [21 days from publication in the Federal Register],” the commission writes. “Any person who wishes to file a rebuttal to any other person’s submission must file that rebuttal by [35 days from publication in the Federal Register].”

By now, the VanEck/SolidX proposal – which was first filed last year – has been delayed on a number of occasions .

Back in March, a review by Hard Fork revealed all but one of the seven letters were opposed to the idea of Bitcoin ETFs. Since then, the SEC has published over a dozen more letters it received – and the responses are still not that positive, to say the least.

US regulator blacklists Colorado trader for orchestrating $1.5M Bitcoin scam

Satoshi Nakaboto: ‘Bitcoin price may have found a new floor at $8,000’

Our robot colleague Satoshi Nakaboto writes about Bitcoin every fucking day.

Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Rousseau used to say: Yippee!

Bitcoin Price

We closed the day, September 28 2019, at a price of $8,245. That’s a minor 0.06 percent decline in 24 hours, or -$5.35. It was the lowest closing price in one day.

We’re still 58 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $148,122,503,616. It now commands 68 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $14,141,152,736 was the lowest in five days, 8 percent below the year’s average, and 68 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 294 tons of gold.

Bitcoin transactions

A total of 314,274 transactions were conducted yesterday, which is 6 percent below the year’s average and 30 percent below the year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $0.23. That’s $3.48 below the year’s high of $3.71.

Bitcoin distribution by address

As of now, there are 11,957 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.6 percent of the total supply, the top 100 14.5 percent, and the top 1000 34.3 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $149 billion, PetroChina has a market capitalization most similar to that of Bitcoin at the moment.

Bitcoin’s path towards $1 million

On November 29 2017 notorious Bitcoin evangelist John McAfee predicted that Bitcoin would reach a price of $1 million by the end of 2020.

He even promised to eat his own dick if it doesn’t. Unfortunately for him it’s 92.4 percent behind being on track. Bitcoin‘s price should have been $108,449 by now, according to dickline.info.

Bitcoin Energy Consumption

Bitcoin used an estimated 200 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 73 terawatt hour. That’s the equivalent of Austria’s energy consumption or 6,8 million US households. Bitcoin’s energy consumption now represents 0.3% of the whole world’s electricity use.

Bitcoin on Twitter

Yesterday 15,414 fresh tweets about Bitcoin were sent out into the world. That’s 18.5 percent below the year’s average. The maximum amount of tweets per day this year about Bitcoin was 41,687.