September 9, 2018, Securities and Exchange Commission (SEC) halts trading of Bitcoin Tracker One (Ticker symbol: CXBTF) and Ether Tracker One (Ticker symbol: CETHF) because of lack of current, consistent and accurate information concerning these assets, issued by XBT Provider AB (publ), a Swedish company headquartered in Stockholm, resulting in confusion amongst market participants regarding these financial instruments.
broker-dealer application materials submitted to enable the offer and
sale of these financial products in the United States, as well as certain trading websites,
characterize them as “Exchange Traded Funds.” Other public sources characterize the
instruments as “Exchange Traded Notes.” By contrast, the issuer characterizes them in its offering materials as “non-equity linked certificates.” Furthermore, CXBTF and CETHF are listed and trade on the NASDAQ/OMX in Stockholm and have recently been quoted on OTC Link (previously “Pink Sheets”) operated by OTC Markets Group, Inc.
Therefore, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the above listed company is suspended for the period from 5:30 p.m. EDT on September 9, 2018, through 11:59 p.m. EDT on September 20, 2018.
Securities and Exchange Commission, however, calls broker-dealer to engage in activities within the United States solely for the purpose of assisting non-broker-dealer customers with the liquidation of owned positions.