Loading cryptocurrency prices...

SEC Postpones Bitwise And VanEck ETF Decisions

- Advertisement -

Surprise! The SEC delays again.

The folks at Bitwise and VanEck/SolidX will have to wait a little longer before the US Securities and Exchange Commission (SEC) reaches a decision on each company’s respective proposals to list bitcoin-based exchange-traded funds (ETF) on US stock exchanges.

True to form, on March 29, the SEC decided to postpone the VanEck/SolidX decision to either “approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change” until May 21 of this year. Likewise, the SEC has delayed its Bitwise decision until May 16.

The VanEck/SolidX ETF proposal was first submitted to the SEC in June 2018 in collaboration with the Cboe BZX Exchange. On August 7, 2018, the SEC decided to postpone its decision regarding a rule change that would allow for the listing of a bitcoin ETF. However, on January 23 of this year, that proposal was voluntarily withdrawn by the Cboe BZX Exchange, possibly because of the government shutdown taking place at that time. Undeterred, Cboe submitted a new proposal on January 31 seeking the same rule change.

The Bitwise ETF proposal was submitted to the SEC on January 10. It asks for the same rule change as the VanEck/SolidX proposal so that it can list a bitcoin ETF on NYSE Arca. However, there are some differences that Bitwise seemed to believe gave it a leg up on other proposals.

Nonetheless, on March 29, the SEC also decided to put off its decision on the fate of the Bitwise ETF. It looks like VanEck/SolidX and Bitwise may be in the same boat after all.



Source: ETHNews

Previous Articles:

- Advertisement -

Latest News

North Korean Hackers Target Binance Co-Founder CZ With Google Attack

Hackers targeted Binance co-founder Changpeng “CZ” Zhao’s Google account, raising concerns about government-backed cyber...

Railgun Token Soars 300% After Ethereum Foundation Integration

Railgun token price surged nearly 300% after integration with a new Ethereum Foundation wallet...

SoftBank Pledges Arm Stock for $5B Margin Loan to Back OpenAI

SoftBank Group is close to securing a $5 billion margin loan using Arm Holdings...

Binance Life Memecoin Soars on BNB Chain After Founders’ Posts

A new memecoin on BNB Chain reached a market value of $524 million shortly...

Bitcoin Slips to $121K as Jobless Claims, Fed Uncertainty Weigh on Crypto

Major cryptocurrencies saw declines as investors reacted to new U.S. jobless claims data and...
- Advertisement -

Must Read

How to Check The Rarity of An NFT

Whenever you invest in an NFT collection, you might have noticed that some NFTs are more expensive than others. NFT collections are often made...