SEC Delays Decision On Three Bitcoin ETF Applications

The US Securities and Exchange Commission (SEC) has once again postponed the decision-making dates on all pending applications for the launch of exchange-traded funds for Bitcoin.

Bids from Bitwise Asset Management and VanEck / SolidX were submitted to the regulator through the exchanges  NYSE Arca and CBOE BZX back in February, and the final decision on them was postponed to October 13 and 18, respectively.

New York Stock Exchange Extension of Wilshire Phoenix Bid Submitted in June to September 29.

SEC Delays Decision On Three Bitcoin ETF Applications

Each of the companies strives to be the first to launch a new Bitcoin-based tool. Until now, all previous proposals have been rejected by the regulator due to problems related to market manipulation and control, as well as potential divergence with futures trading.

While the applicants are submitting reports to the SEC in an attempt to prove that the BTC market is much better regulated than it is believed, and is also closely related to the CME crypto derivatives and resilient to the exclusion of fake trade data, their arguments have not yet convinced officials..

text: Ivan Malichenko, photo: Reuters

Similar articles