The next key SEC date for Bitcoin ETF has been delayed to Sept 30th. In an order published on August 7, officials at the agency wrote that they were giving themselves more time to deliberate on whether to approve what would be the first exchange-traded product of its kind in the US. This is not the first time SEC officials have used the agency’s statutory powers to push back decisions on bitcoin ETFs.
You can read the full statement from the SEC here – https://www.sec.gov/rules/sro/cboebzx/2018/34-83792.pdf
The choice to move the decision date also comes days after SEC commissioners completed a review on a proposed bitcoin ETF from investors Cameron and Tyler Winklevoss, whose multi-year effort was dashed after a majority of the SEC’s commissioners backed up the agency’s original March 2017 rejection.
The proposed rule change from CBOE would, if approved, constitute a critical point on a path to listing a bitcoin ETF, in conjunction with money management firm VanEck and crypto startup SolidX. The companies submitted their proposal back in June and an event which sparked a small crypto rally.
However, on this latest news the price of bitcoin has dropped below $6,900 on BitFinex at the time of writing.