The SEC has postponed a decision on bitcoin ETF on September
Commission United States securities and exchange Commission (SEC), the United States has postponed a decision on the proposed bitcoin exchange traded funds (bitcoin ETF), moving the timing of the review more than a month.
In a published statement, the Commission reported that it takes more time to discuss applications of exchange CBOE and the joint VanEck/ SolidX launch a bitcoin exchange traded funds, as well as proposed rule changes.
“Accordingly, the Commission determines 30 September 2018, as the date by which Commission must either approve or disapprove or to set a hearing to determine whether to disapprove the proposed rule change,” reads the SEC statement.
Proposals to change the rules to create a bitcoin ETF was filed by CBOE with the Commission in December last year. In July, the Chicago stock exchange filed with the SEC an application for registrations-ETF. A month earlier, the Commission received a similar joint application of the investment company VanEck and blockchain startup SolidX.
In late July, the regulator rejected the request of the founders of Gemini crypto currency exchange Tyler and Cameron Winklevoss (Tyler, Cameron Winklevoss) to open bitcoin ETF. Moreover, it was the second appeal of the brothers to the Commission on this issue — more than a year ago, they were trying to achieve a change in control rules that would allow to launch ETF based on bitcoin.
One of the commissioners SEC — Hester pierce (Hester Peirce) — disagreed with the Commission’s decision on the application Winklevosses what released an official statement. According to pierce, the bitcoin market is quite Mature, and the SEC delays the arrival of his institutional investors.
The market reacted negatively to the regulator’s decision to defer consideration of the proposed changes in the rules and registration bitcoin-ETF — price of the first cryptocurrency fell from $7100 to about $6500 (according to CoinMarketCap).