SEC again postponed decisions on three applications for Bitcoin-ETF

Representatives of the US Securities and Exchange Commission (SEC) once again postpone their decision to promote three Bitcoin-ETFs on the American market.

Offers sent to the SEC by VanEck / SolidX, as well as Bitwise Asset Managemen and Wilshire Phoenix provide for the launch of the first Bitcoin-ETFs in the US market. Final decisions on enhanced offers from Bitwise and VanEck / SolidX will be ready by October 13th and 18th, respectively. Wilshire Phoenix is expected to receive another decision by September 29th.

Despite the fact that in the past few years many companies have tried to launch Bitcoin-ETF, the regulator still does not dare to approve a single proposal. SEC fears are caused by manipulations in the cryptocurrency market and proper supervision of the activities of representatives of the crypto industry. Recall that the application from VanEck arrived at the SEC in January, and from Bitwise in February. Wilshire Phoenix representatives sent the proposal on July 1, 2019.

In June, Jay Clayton, representative of the SEC, explained that the regulator must first make sure that custody crypto services are safe for users, and only then it will talk about the launch of BTC-ETF – this is necessary in order to eliminate possible market manipulations.