SEC postpones decision on Bitwise and VanEck/SolidX Bitcoin ETFs

29 Mar, 2019
by David Robb
Regulation
SEC postpones decision on Bitwise and VanEck/SolidX Bitcoin ETFs

The Securities and Exchanges Commission (SEC) has postponed its decision on two more important Bitcoin ETFs. The SEC will be taking more time to decide on the proposals submitted by Bitwise and VanEck/SolidX.

With reservations about security and investor protection in the crypto space, the SEC has postponed its decision on rule changes for every exchange-traded fund (ETF) for Bitcoin that has been proposed so far.

In a statement about the proposal from Bitwise Asset Management, the SEC says: "The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rulechange. Accordingly, the Commission...designates May 16, 2019 as the date by which the Commission shall either approve or disapprove (the proposed rule changes)".

Read more: CME Group's CEO on why regulators hate Bitcoin: It has finite supply"Crypto Mom" admits SEC lacking in "innovation" concerning digital assets

CoinDesk reports that a similar decision has been taken for the VanEck/SolidX proposal, which was submitted with the Cboe BZX Exchange. Its initial submission back in January had been withdrawn due to the government shutdown. The Bitwise Asset Management ETF proposal, drawn up with NYSE Arca, was published in the Federal Register on February 15.

Read more: 5 things Bitcoin could become

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