The US SEC has set 26th February as the next date to announce its decision on the bitcoin ETF proposed by Wilshire Phoenix. The exchange commission has not approved any bitcoin ETF so far. SEC has rejected over two dozens BTC ETF in the last two years.
SEC concerned about potential market manipulation.
According to the official document, SEC will continue evaluating the proposal, which was first filed earlier this year by Wilshire Phoenix. SEC has repeatedly pointed out the risk of potential market manipulation and surveillance sharing for not approving the BTC ETF yet. However, Wilshire Phoenix claims that it has found a way to get around these problems.
SEC is reviewing Bitwise Asset management’s BTC ETF.
Earlier, the SEC had rejected the BTC ETF of Bitwise Asset Management, citing market manipulation and surveillance sharing reasons. But SEC recently revealed that it is reviewing its decision. SEC’s five commissioners are reviewing the bitcoin ETF put forth by Bitwise Asset Management. The interesting thing was that Bitwise did not request the SEC to review the BTC ETF.