2 years ago
Bitcoin › U.S. › Regulation
SEC postponed its determination connected Bitwise exertion citing the request for much accusation connected salient matters.
The Securities and Exchange Commission (SEC) has refused to o.k. a Bitcoin exchange-traded money (ETF) exertion earlier it, alternatively choosing to postpone its determination again.
SEC asks for comments connected Bitwise ETF application
Available accusation from a caller filing from the regulator revealed that it has postponed its determination connected the connection of Bitwise Asset Management Bitcoin ETF application.
According to the filing, the SEC was postponing its determination due to the fact that it needed much clip to get much accusation astir the application.
The SEC is requesting for accusation connected the expected trading volume, however the ETF plans to support investors from fraud and manipulations and different applicable matters arsenic it relates to the application.
Bitwise has 21 days to respond to the commission’s petition for information.
Notably, this is the 2nd clip that the foremost regulator would beryllium choosing to postpone its determination connected Bitwise ETF application. The determination was archetypal postponed successful December earlier it was postponed again connected February 1.
Per Jake Chervinsky of the Blockchain Association, the new deadline for the Gary Gensler-led committee is August 14; however, it could inactive take to hold “one much clip to a last deadline of October 13.”
Latest hold shows SEC remains unconvinced astir a Bitcoin spot ETF
The SEC, nether Gary Gensler, has lone approved Bitcoin futures ETF and has maintained that spot ETF applications unfastened investors to fraud and manipulation, a concern it is seeking to avoid.
This has informed SEC’s determination to either cull oregon postpone its determination connected respective Bitcoin spot ETF applications. For example, Valkyrie and Kryptoin saw their Bitcoin spot ETF applications rejected successful December based connected the supra reasons.
Aside from this, the bureau besides postponed its determination connected Grayscale’s application.
On the different hand, Bitcoin futures ETFs similar ProShares, Valkyrie (BTF), and VanEck (XBTF) were approved by the committee past year.
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