The US Exchange and Securities Commission (SEC), as some experts had suggested, once again postponed the decision on the bitcoin fund traded on the Bitcoin Fund (ETF) from VanEck and SolidX to a later date.
In a document published on Monday, May 20, the Commission also appealed to the public to leave comments on the application for launching the fund and to help it decide on the decision.
Recall, VanEck and SolidX filed a joint application for the launch of Bitcoin-ETF in June 2018 . The SEC postponed the decision-making terms several times, and the final date was to be February 27 of this year.
However, in January, the Chicago Options Exchange (Cboe), where the fund is to be placed, withdrew a rule change request that would allow it to launch a new instrument. As VanEck CEO Jan Van Eyck explained later, the so-called shutdown — the suspension of the work of US government agencies due to the delay in adopting the country's budget in late December 2018 — had a direct impact on the process.
In late January, Cboe re-applied to the SEC with a proposal to amend the rules, which, if approved, would allow it to launch an exchange-traded investment fund tied to Bitcoin, but the Commission began to consider the application only at the end of February . A month later – the end of March – the regulator announced that it was postponing the decision making period both for the VanEck fund and the parallel application Bitwise Asset Management.
A repeated postponement in the case of Bitwise happened last week , the Commission had to decide on the VanEck fund until tomorrow.
Jake Cervinski, a well-known lawyer in the field of cryptocurrency, called it extremely unlikely that SEC will approve the launch of Bitcoin-ETF from VanEck and SolidX companies this week.
As expected, the SEC has delayed the VanEck bitcoin ETF proposal. Read the order here: https://t.co/OB3TBgVGwg .
The SEC will be more likely to be a deadline.
Look: https://t.co/bkzeVRt1Hg
– Jake Chervinsky (@jchervinsky) May 20, 2019
“As expected, the SEC postponed the decision on the VanEck proposal. The new term is August 19th. SEC can – and most likely will do it – once again postpone the decision until the final and final date of October 18, ” commented today's news Chervinski.
Follow BlockchainJournal on Twitter !
BlockchainJournal.news
BlockchainJournal.news
