The Securities and Exchange Commission (SEC) announced a temporary ban on trading in XBT Provider exchange-traded notes, which were tied to bitcoin and Ethereum.

The SEC published a statement noting that buying and sale operations with Bitcoin-ETN and Ethereum-ETN of XBT Provider will be unavailable starting from 21:30 UTC on 9 September 2018 till 07:59 UTC on 21 September 2018.

The US securities regulator explained its decision by confusion amongst market participants regarding the nature of the instrument proposed to them.

The "confusion amongst market participants", reported by the SEC, probably refers to the fact that some non-professional retail investors could erroneously decide that these two products are securities of exchange traded crypto fund (ETF), while the SEC did not approve the launch of such ETFs. Since these two securities do not conflict formally with US securities laws, one of the possible reasons for the suspension is that the SEC wants to have some time for a dialogue with US broker-dealers to give them recommendations on how to strengthen the protection of inexperienced investors.

Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF) products are issued by the Swedish company XBT Provider, which is the daughter of the British company Global Advisors (Holdings) Limited.