SEC Postpones Decision on Bitcoin ETF Listing to September.
The U.S. Securities and Exchange Commission has postponed a decision on whether to allow the listing of an exchange-traded fund backed by Bitcoin.
The agency now has until Sept. 30 to “approve or disapprove, or institute proceedings to determine whether to disapprove” a proposed rule change from Cboe Global Markets Inc. that would allow the fund from VanEck Associates Corp. and SolidX Partners Inc. to list, the SEC said in a statement. An initial deadline was due to expire next week.
The SEC’s delay is another blow to crypto-currency enthusiasts after the regulator denied an exchange’s request to list a similar fund run by Tyler and Cameron Winklevoss late last month. Some had argued that VanEck’s proposal was more likely to gain approval thanks to plans for a high minimum share price that would discourage retail investors, and insurance. The Commission had received more than 1,300 comments on the proposed rule change as of Aug. 6, it said.
https://www.bloomberg.com/news/articles/2018-08-07/sec-postpones-decision-on-vaneck-bitcoin-etf-to-september
The U.S. Securities and Exchange Commission has postponed a decision on whether to allow the listing of an exchange-traded fund backed by Bitcoin.
The agency now has until Sept. 30 to “approve or disapprove, or institute proceedings to determine whether to disapprove” a proposed rule change from Cboe Global Markets Inc. that would allow the fund from VanEck Associates Corp. and SolidX Partners Inc. to list, the SEC said in a statement. An initial deadline was due to expire next week.
The SEC’s delay is another blow to crypto-currency enthusiasts after the regulator denied an exchange’s request to list a similar fund run by Tyler and Cameron Winklevoss late last month. Some had argued that VanEck’s proposal was more likely to gain approval thanks to plans for a high minimum share price that would discourage retail investors, and insurance. The Commission had received more than 1,300 comments on the proposed rule change as of Aug. 6, it said.
https://www.bloomberg.com/news/articles/2018-08-07/sec-postpones-decision-on-vaneck-bitcoin-etf-to-september