SEC reviews 2 different Bitcoin ETF proposals: 45-90 days to decide

20 Feb, 2019 | Updated: 20 Feb, 2019
by Jelmer van der Dussen
Breaking News
SEC reviews 2 different Bitcoin ETF proposals: 45-90 days to decide

The SEC is reviewing two Bitcoin ETF proposals, according to a statement from the US Securities and Exchange Commission. Both the VanEck/SolidX proposal and the Bitwise proposal are on the table now.

The VanEck/SolidX proposal, that was filed together with the CBOE Exchange, was added to the federal register this week. Within 45 days, the SEC has to decide whether or not this Bitcoin ETF will be approved. Last week, the Bitwise ETF proposal was added to the agenda by the SEC. That deadine is in 40 days.
Both decisions can be postponed with another 45 days. 

Read more: Why hasn't the SEC approved a Bitcoin ETF yet?

The VanEck ETF was on the SEC table for the first time last year, but had to be withdrawn because of the US government shutdown. By the end of January, VanEck/SolidX refiled the proposal, stating to Coindesk that 'a Bitcoin ETF would serve the public if approved'. 

A Bitcoin ETF approval is talk of the crypto community for months already. It is believed that an approval would bring a new wave of investments to the space.

Read more: Why does SEC Commissioner Hester Peirce fight for a Bitcoin ETF?

Recently, SEC Commissioner and 'Crypto Mom' Hester Peirce said that there likely will be no Bitcoin ETF approval in 2019. Peirce is fighting for the approval of a Bitcoin ETF for the last year. “We have applications.Those are subject to a very specific time frame where we have to act within a certain amount of time, and so that’s what it’s going to depend on. And those are very arcane rules as to whether it happens or not, so I can’t speculate on the timing."

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