The US SEC has announced to review the rejected bitcoin ETF proposed by Bitwise earlier. As of now, the US SEC has not approved any bitcoin ETF. If SEC overturns its decision, it would be the first bitcoin ETF to be approved. The SEC also informed that the order to disapprove listing of the ETF filing from Bitwise Asset Management and NYSE Arca would remain in effect pending the commission’s review.
Bitwise did not request the review.
Bitwise’s global head of research, Matt Hougan, revealed that they did not request the SEC for the review of their bitcoin ETF application. However, the company welcomes the opportunity to submit comments and continue the dialogue with the SEC. According to the official announcement, SEC’s five commissioners will review the bitcoin ETF put forth by Bitwise Asset Management.
Is it time for SEC to finally approve a BTC ETF?
Earlier, SEC Chairman Jay Clayton had said about bitcoin ETF that there is some progress being made. The SEC’s biggest concern for approving a BTC ETF is that the market is still vulnerable to manipulations and frauds. After SEC rejected Bitwise’s application, another applicant withdrew, VanEck/SolidX withdrew its application. US SEC is also accepting public comments on the rejected bitcoin ETF applications till 18th December.