XRP, BTC Take A Hit As SEC Delays CBOE VanEck Bitcoin ETF

XRP, BTC Take a Hit as SEC Delays CBOE VanEck Bitcoin ETF: Last week we talked about Bitwise, San Francisco-based company, that joined the race in launching the first cryptocurrency exchange-traded fund (ETF) filed with the U.S. Securities and Exchange Commission (SEC). They’re looking to launch an ETF that would track a basket of 10 cryptocurrencies, including bitcoin.

In the meantime, though, others in the crypto ETF race are getting delayed. The SEC revealed on Tuesday that it will be delaying a decision on a proposed bitcoin ETF backed by three well-established firms, including the Cboe, VanEck, and SolidX. The SEC wants to take its time in approving the very first crypto ETF, keeping us all at the edge of our seats. Many of the industry leaders took to Twitter to weigh on the delaying news, mainly saying they were expecting this from the SEC.

So take that, authorities! Nothing new here. In fact, most analysts speculate the first Bitcoin ETF to get approved sometime in early 2019. That’s actually around the time my new book will be published, so good-timing indeed.

Despite this delay being anticipated, major cryptocurrencies including Bitcoin took it badly. BTC/USD continued its journey inside the daily Ichimoku cloud below the $7,000 psychological pivot level and towards our key support level of $5,850. Ripple’s XRP took a wilder route, dropping below $0.42 for the first time in 8 months . Next stop for XRP/USD could be the $0.24 level.

Don’t forget to complete your risk management due-diligence before developing your investment strategy.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Kiana Danial

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert. She is a highly sought-after professional speaker, author and executive coach who delivers inspirational workshops and seminars to corporations, universities and entrepreneurial groups. She is a frequent expert on many TV and radio stations and has reported on the financial markets directly from the floor of NYSE and Nasdaq. She is a weekly investment expert guest on Tokyo’s #1 Investment TV Show. She has been featured in The Wall Street Journal, TIME Magazine, CNN, Forbes, The Street, and numerous other publications. Kiana’s book "Invest Diva's Guide to Making Money in Forex" was picked by McGraw-Hill only two years after she first moved to the US, and was an immediate domestic and international success. At a young age, she has won numerous awards including Best Financial Education Provider at Shanghai Forex Expo in 2014, New York Business Women of Influence Honoree in 2015, and Pro Bono Humanitarian Award by IA Bar Association in 2013. Born and raised in Iran to a Jewish family as a religious minority, she was awarded a scholarship from the Japanese government to study Electrical Engineering in Japan, where she obtained two degrees in Electrical Engineering and researched on Quantum Physics in classes conducted in the Japanese language. Being the only girl and foreigner in her classes made her decide to dedicate her life to empowering minorities, especially women in male dominated industries. As the CEO of Invest Diva, Kiana’s goal is to empower and educate women to grow their wealth by investing like a ROCK STAR.

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