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SEC To Decide On Bitcoin ETF Applications In 2019

17:50 07/12/2018

The US Securities and Exchange Commission (SEC) has deferred the decision date concerning bitcoin exchange-traded funds (ETF), Coindesk reports.

 

The regulator published a report in which it informed about the prolongation of the time for application consideration of the venture firm VanEck and the blockchain startup SolidX until February 27, 2019. Since the beginning of 2018, both companies have been working closely with the Chicago Board Options Exchange (CBOE).

According to the internal regulations of the Commission, the deadline for the resolution on applications is on February 27, 2019, and it can no longer be extended, SEC has to issue a final verdict.

 

Uncertainty about bitcoin ETF has been observed for a few months. Apart from VanEck and SolidX, several companies filed nine applications for the opening of bitcoin investment funds on exchanges at once in August, but the Commission rejected them.

However, SEC changed its timing a day later and decided to prolong the period for approval of applications. Additionally, all interested parties will have the opportunity to participate in an open discussion about the ETF until November 6.

 

The offers submitted by VanEck and SolidX differ from the other nine because they are pegged to bitcoin itself, and not to futures markets. The public also discussed these two applications, and over 1600 responses were forwarded to SEC.

 

As previously reported, the Commission fined the famous boxer Floyd Mayweather Jr. for illegal ICO advertising.

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