The SEC requires additional comments by the bitcoin ETF

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The SEC requires additional comments by the bitcoin ETF

The Commission on securities and exchange Commission (SEC) asked the public to provide additional comments regarding the proposals for the establishment of nine exchange traded funds (ETFs), tied to bitcoins that were originally rejected and are currently undergoing further review. This writes CoinDesk.

In August, the SEC rejected the proposals of companies, ProShares, and Direxion GraniteShares, designed in cooperation with exchange operators NYSE Arca and Cboe, as reasons for not putting the disadvantages of the futures market and the main risks of the spot market, including the likely manipulation.

After the issuance of the official denial, the Agency reported that its procedures provide for the process of reviewing the earlier decision.

In new documents released Thursday, the SEC asked for public comment on all nine of the bitcoin ETF, appointed 26 October as the deadline for receiving complaints.

“In accordance with a previous refusal remains in effect until the Commission is in the process of revision,” wrote assistant Secretary Eduardo Aleman.

In a separate order, the SEC will consider requests for the creation of a bitcoin ETF firms SolidX and VanEck, a decision which may be made in December.

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