US Securities and Exchange Commission (SEC) Postpones Decision On Two Bids To Launch Bitcoin ETF For Another 45 Days.
The first offer for a cryptocurrency exchange-traded fund was submitted to NYSE Arca by Bitwise Asset Management. The application was entered into the Federal Register on February 15, extending the consideration period, the regulator postponed the deadline for making a decision on it to May 16, 2019. The SEC said in a released statement that the organization has received 21 comments regarding this application and will follow up on them. elaboration.
The Commission is also considering a proposal from VanEck and SolidX, which want to launch a Bitcoin ETF on the Chicago Board Options Exchange (CBOE). This application was originally sent to the regulator almost a year ago, but after delaying the decision during the government’s closure, it was withdrawn to avoid automatic rejection. Re it was filed on February 20, respectively, now the SEC has extended term of consideration until May 21.
Despite this postponement, the regulation allows the regulator to delay the process up to 240 days, as it was last year..
Many are awaiting approval of at least one application, as this will stimulate the cryptocurrency market and attract the attention of institutional investors to Bitcoin. However, some experts believe that the SEC will not dare to do this due to the contradictory attitude of the government and banks to decentralized virtual assets..
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text: Ivan Malichenko, photo: Shutterstock