SEC Delays Decision for Bitcoin ETF Approval Until September
Following weeks of build up, the U.S. Securities and Exchange Commission has announced that it will postpone the decision on whether to allow the listing of the Cboe VanEck/SolidX exchange-traded fund (ETF) backed by Bitcoin (BTC) to September 30.
According to a release published on Tuesday, the SEC has received more than 1,300 comments on the proposed rule change to the Cboe BZX Rule that would open up the ETF regulations to include digital asset-backed funds. Given the scope of information needed to make an informed decision, the SEC has chosen to buy itself some more time to officially announce.
This news comes just weeks after the SEC rejected the Winklevoss’ latest attempt to list a Bitcoin ETF, citing concerns over fraud and market manipulation of the digital currency. Since that time, the price of BTC has retreated and now stands at $6,550.
More: SEC Notice
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.