SEC Delays Date Of Decision On Bitcoin ETF Applications
The US Securities and Exchange Commission (SEC) pushed back a deadline to decide on two applications for creating bitcoin derivatives (ETF), sent by the Bitwise Asset Management and VanEck projects, the SEC website reports.
The first ETF application filed by Bitwise Asset Management on the NYSE Arca was recorded in the Federal Register on February 15. The SEC had 45 days to make a decision on this application. Now, after the deadline was postponed, the government has received 45 more days to reach a verdict and publish it no later than May 16, 2019.
The regulator is also considering another bitcoin-ETF proposal initiated by SolidX and VanEck in collaboration with the Cboe BZX exchange. The application was registered one year ago, but then rejected and resubmitted on February 20. The regulator extended the deadline till May 21, 2019.
According to the SEC, the department received 21 letters with comments about changes in rules regarding the applications of mentioned companies.
As previously reported, some representatives of the crypto community posted their feedback about the bitcoin ETF issue on the SEC's official website. The majority of respondents negatively reacted to this investment instrument and urged the regulator not to satisfy the requests.