Once again, The United States Securities and Exchange Commission (SEC) delays the historical decision on Three Bitcoin Exchange-traded Fund (ETF) proposal.
SEC again postpones the long-awaited decision on three ETF proposals i.e VanEck SolidX, Bitwise Asset Management, and Wilshire Phoenix, According to the document published on Monday, SEC will further study the proposal and the decision on the ETF’s and decide whether to approve or disapprove the proposed rule change.
According to the Notification issued by SEC, the decision on the three Bitcoin ETF proposals is scheduled to be made within 240 days.
The SEC has delayed its decision on VanECK SolidX Bitcoin Trust (XBTC) on 18 October, and decision on Bitwise’s listing is delayed until 13 October.
The decision on Wilshire Phoenix’s United States Bitcoin and Treasury Investment Trust is postponed till September 29.
“The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change.”
According to the Published document for VanEck, the company filed a proposal with SEC on 30 January.
Bitwise Bitcoin ETF Trust under NYSE Arca filed the listing application under States Securities and Exchange Commission (SEC) on January 28, 2019.
The Wilshire Phoenix filled the listing application On June 12, 2019, which is published in the Federal Register on July 1, 2019.
The recent delay in the decision is market manipulation, market surveillance and a potential divergence with futures trading as some issues.