The Securities and Exchange Commission (SEC) based in the United States will no longer make an immediate decision regarding three Bitcoin-related exchange-traded funds (ETFs) proposals.
Essentially, VanEck SolidX, Bitwise Asset Management, and Wilshire Phoenix all presented proposals to be granted the ability to host Bitcoin ETFs. The SEC has been fumbling processing them, constantly citing regulation issues, among others, for not making a decision.
According to CoinTelegraph, who found this information via SEC-related documents, noted that the VanEck decision was pushed to October 18th, Bitwise, to October 13th, and Wilshire Phoenix’s to September 29. Bitwise is asking to be listed on NYSE Arca while Wilshire Phoenix is asking for the United States Bitcoin and Treasury Investment Trust.
The SEC gave the following reason for the delay:
“The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change.”
These aren’t the first delays, either. The SEC delayed VanEck back in March alongside Bitwise, and did so another time in May of this year. VanEck was proposed back in January, Bitwise in February, and Wilshire Phoenix in July.
As you may know, however, the SEC has every right to delay their decision as they prefer, considering they likely need more information about each proposal.
Back in May, after the delays, the SEC put out 14 questions that they wanted to be answered. The public was able to view these questions as well as if the Commission was letting them know what it was looking for. However, “Crypto Mom” Hester Pierce of the SEC spoke on ETFs and stated that investors shouldn’t get their hopes too high regarding them:
“Definitely possible could be 20 years from now or it could be tomorrow. Don’t hold your breath. The SEC took a long time to establish Finhub. It might take even longer to approve an exchange traded product.”
Trusted & Regulated Stock & CFD Brokers
What we like
- 0% Fees on Stocks
- 5000+ Stocks, ETFs and other Markets
- Accepts Paypal Deposits
Min Deposit
$200
Charge per Trade
Zero Commission on real stocks
64 traders signed up today
Visit Now67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Available Assets
- Total Number of Stocks & Shares5000+
- US Stocks
- German Stocks
- UK Stocks
- European
- ETF Stocks
- IPO
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 Zero Commission
- NASDAQ Zero Commission
- DAX Zero Commission
- Facebook Zero Commission
- Alphabet Zero Commission
- Tesla Zero Commission
- Apple Zero Commission
- Microsoft Zero Commission
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
- Paypall
- Skrill
- Neteller
What we like
- Sign up today and get $5 free
- Fractals Available
- Paypal Available
Min Deposit
$0
Charge per Trade
$1 to $9 PCM
Visit Now
Investing in financial markets carries risk, you have the potential to lose your total investment.
Available Assets
- Total Number of Shares999
- US Stocks
- German Stocks
- UK Stocks
- European Stocks
- EFTs
- IPOs
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 $1 - $9 per month
- NASDAQ $1 - $9 per month
- DAX $1 - $9 per month
- Facebook $1 - $9 per month
- Alphabet $1 - $9 per month
- Telsa $1 - $9 per month
- Apple $1 - $9 per month
- Microsoft $1 - $9 per month
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
Share
Max Moeller
