The Securities and Exchange Commission (SEC) sets new deadlines for three Bitcoin ETFs to September and October
The Securities and Exchange Commission (SEC) again postponed decisions on three Bitcoin Exchange Traded Fund (ETF) proposals as per documents published by the regulatory agency on Monday.
Two ETFs were filed this year by Bitwise Asset Management under NYSE Arca and VanEck/SolidX under Cboe BZX Exchange, although neither of which has been able to make any process in winning the regulator’s approval. Wilshire Phoenix Funds joined the waitlist in June by proposing a fund that hedges bitcoin with Treasury bills.
The updated deadline for the SEC to make a decision on Bitwise and VanEck/SolidX, the dates are Oct. 13 and Oct. 18 respectively and for Wilshire Phoenix is Sept. 29.
Many companies have proposed Bitcoin ETFs in recent years, the regulator has been delaying decisions on Bitcoin ETFs referring to the concerns with the fraudulent and manipulative acts and practices in cryptocurrency trading.
Disclaimer & Suggestion : Please always do your due diligence before investing in any cryptocurrency or project. This should not be treated as financial advice.