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Bitcoin ETF Update: US SEC Delays Decision on Bitwise BTC ETF

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The Securities and Exchange Commission of the United States has yet again delayed the decision to be made regarding the Bitwise Bitcoin ETF. The updated was released in a filing published on the 14th of May by the Securities and Exchange Commission.

 

Securities and Exchange Commission delays Bitcoin ETF decision:

In the filing published by the SEC, they revealed that the commission has yet again delayed its decision on the approval or disapproval of the Bitcoin ETF application filed by the crypto index fund provider Bitwise Asset Management. Also, the SEC has requested the interested parties to provide public comment which includes written submission of their personal views, any data, and arguments related to the issues identified and also other concerns that they may have with the proposed ETF.

 

Bitwise filed for the current Bitcoin ETF in February this year with the condition that the SEC would make a decision on approving or disapproving the same within 45 days of the application. At that time, Bitwise reportedly said that the current Bitcoin ETF application was different and better than the previous proposed BTC ETFs considering all the previous drawbacks. The company said that their BTC ETF would draw the prices from a lot of top crypto exchanges rather than just a few so that the market is represented better.

 

However, the Bitcoin ETF decision was delayed by the SEC in March and the Commission was thereafter obligated to make a final decision by the 16th of May 2019.

 

What Now?

As per the filing made by the SEC today, the public commenting period will go on for three weeks after the recent amendments done to the Bitcoin ETF application filed by Bitwise are published in the Federal Register which shall then be followed by 2 weeks for the public response

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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