The US-American financial market supervision Securities and Exchanges Commission (SEC) has set the next date for the decision to the Bitcoin ETF applications. 26. October is now to be clarity in the Posse to exchange traded funds, which invest in Bitcoin. At least if the SEC can’t come up with a reason to Postpone.
For what felt like an eternity crypto-investors are waiting for the launch of Exchange Trade Funds (ETF), which is with Bitcoin. In the USA competent authority, the Securities and Exchanges Commission had rejected in the last two years, however, all requests of such Fund. Probably the most haunting cases were the proposals from the Winklevoss brothers.
First rejection, then all at once, but not
Meanwhile, some other providers have asked the SEC if and when they can start in a listed Fund for the crypto-trade. For the observation of nine different ETF proposals from three providers. The NYSE Arc and granite shares submitted two applications, Direxion those five.
In August, the SEC had issued also the new aspirations of first refusal, but only a day later, revised. Instead, it was to let the thing go once through the head. To do this, you want to deal even more with what it thinks the crypto and investors Community through a Bitcoin ETF.
The SEC had opened a time Slot and asked the SEC for feedback from every possible Person or Institution, in the case of legitimate concerns or reasons for an ETF. As a preliminary end date of the 26. October targeted. Up to this point, the SEC would like to look at the entries in the population and then decide.
What is the shift?
With the postponement of the Deadline, the SEC will be paid for primarily more time, the whole thing can still go through your head. Similarly, it is obvious that she hopes to promptings and the spirit of lightning, which could be caused by the incoming comments.
In view of the in the last few months, always emotional and heated debate whether Bitcoin will help the ETF to the crypto-Economy, or would harm, the extension of the official debate time is also a pleasant effect. So the SEC can go, ultimately, also ensure that all arguments are heard and against each other are weighed.