The Commission on securities and exchange Commission (SEC) has deferred a decision on the issue of bitcoin exchange-traded Fund (ETF) an application for registration which was filed by the company VanEck and Solid. The jury’s verdict will be known only at the end of September.
In a decision published on 7 August, the Commission’s staff explain that they need more time to discuss whether to approve a bitcoin ETF in the US, and what they should be. Nothing surprising in this delay no: SEC previously and was in no hurry to take decisions on the registration of such funds.
Final date the Commission selected September 30. On this day, the Supervisory authority will announce luxurious setting of the check bitcoin ETF, and, if not, explain why, and propose changes in the rules.
Exchange-traded Fund, referred to, called the Cboe. It is supported by two company — firm managing assets VanEck and cryptocurrency startup SolidX. Many analysts believe that the approval of the Cboe Board will be a turning point for the cryptocurrency industry and will pave the way to the market many other bitcoin ETF.
SolidX and VanEck filed with the SEC in June and received many comments of support from the crypto community. According to information in the media, by the middle of July to the application the Cboe has been left more than 100 comments.
Interestingly, the SEC recently rejected the application for registration for a bitcoin ETF from businessmen brothers Winklevoss (Winklevoss). Entrepreneurs have long been fighting for his idea, but the Board continually denies them the consideration of the application. As noted by representatives of the SEC, they do it because of the poor sentence structure of the Winklevoss brothers.
However within the Commission, apparently, there are certain differences in views on the bitcoin ETF. One of the employees of the Supervisory authority Hester pierce (Hester Peirce), which did not agree with the decision of the majority on the question of the application the Winklevoss believes that attempts to ban exchange-traded funds focused on the cryptocurrency cause damage to both investors and innovators themselves.
“From my point of view, we (approx. SEC) to be mindful of what role we play, and not to be who decides which innovations and technologies will take place, and what — no,” said pierce.
Recall that in September is expected to adopt decisions on other 5 bitcoin ETF, which deals with the company Direxion Investments. And just a few days ago the head of the Crescent Crypto — asset management companies, expressed the view that the SEC will approve the funds within the next 18 months.
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