Yet again, the SEC is under the watch by so many Bitcoin enthusiasts and investors. The agency has a new deadline to rule on the eventual emergence of a Bitcoin Etf, a decision that needs to take place by April 5th, 2019.
For a second time, a proposal for a Bitcoin ETF was submitted by SolidX, CBOE and VanEck. Once the proposal is submitted to the Federal Register, the SEC will have around 45 days to decide if there will a rejection, approval or extension on the ETF.
According to press, after the proposal is officially published, the general public will have until March 13th to file their initial responses to it. Then, after this period if over, the SEC will take the time until April 5th to rule in favor or against the application. A possible extension of the process is also in question.
While the ruling against or for a Bitcoin ETF can mean a positive wave in the crypto market, eventually boosting liquidity and the value of Bitcoin, the SEC can give itself anywhere up to three extension periods to decide on the next step towards the ETF. While many are expecting some decisions in April 5th, includingNYSE Arca and Bitwise Investment Management, which both also filed proposals for the SEC to review.
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VanEck / CBOE Bitcoin ETF – decision by April 5th, 2019? was first posted on February 19, 2019 at 10:40 pm.