The US Securities and Exchange Commission (SEC) has announced the start of reviewing a proposal to change the rules for listing Bitcoin-ETF , issued by the NYSE Arca and Bitwise Asset Management, with its entry in the Federal Register on February 15. From this date, the regulator will have 45 days to make the primary decision: approve, reject the proposal or request additional time for its consideration.
Members of the public are given 3 weeks to provide the SEC with any comments on this matter.
NYSE Arca and Bitwise announced their intention to launch Bitcoin-ETF in January of this year, simultaneously completing the necessary documents. However, the SEC did not immediately submit a proposal to the Federal Register due to the suspension of the work of the US government, and therefore its official consideration begins only now.
As Bitwise has previously reported, her offer differs from other requests to launch Bitcoin-ETF, since it is going to use an adjustable third-party solution for storing Bitcoins . In addition, for the determination of the price of a financial instrument, data of a multitude of cryptobirds will be used, carrying out both spot and futures trading.
The application for listing Bitcoin-ETF companies VanEck and SolidX, issued jointly with the exchange Cboe BZX, which was withdrawn at the end of January and reissued later, is currently awaiting inclusion in the Federal Register. It was assumed that this proposal will receive its decision by February 27, but after re-filing the previous consideration period has lost its relevance, and the new one has not yet started.
Publication date 17.02.2019
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