SEC Delays Bitcoin ETF Decision to September
SEC decided to postpone the decision about by the Bitcoin (BTC) ETF filing by the three firms of CBOE, VanEck and SolidX to the end of September.
As the agency wrote:
"Accordingly, the Commission ... designates September 30, 2018, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change."
The VanEck/SolidX Bitcoin ETF proposal was filed in June when the prominent companies joined forces. Despite the interest towards an ETF-like product, the Commission declined the proposed rule change to list and trade shares of the Winklevoss Bitcoin Trust on the Bats BZX Exchange in late July. However, SEC commissioner Hester M. Price voiced a formal disagreement, outlining numerous flaws in the ruling. She argued that the proposed rule change did, in fact, abide by the statutory standard.
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