The US Securities and Exchange Commission has currently dropped its decision on Bitcoin Exchange (ETF) applications and has postponed consideration for the next two months.
to the Report The Block Extends the deadline for applications from four companies, Global X, Valkyrie, WisdomTree and Kryptoin, to offer a tradable fund on the Bitcoin exchange, by the US Exchange Commission. Is. The decision on these requests has been postponed to November 21 (November 30), December 8 (December 7), December 11 (December 20) and December 24 (December 3), respectively. Extensions have already been extended for cryptocurrencies, Wisdom Terry and Valkyrie.
The announcement of the stock exchange commission states:
The Commission concluded that it would be better to set aside more time to approve or reject the proposed amendment so that it would have sufficient time to review the amendment and related issues raised in the submitted requests.
The US Securities and Exchange Commission has a history of such dealings with funds traded on the Bitcoin exchange. The deadline for reviewing many recent requests has been extended to the extent permitted by the Commission and until they have been rejected.
Since the change in the approach of the US Securities and Exchange Commission, a new wave of applications has been registered, which have faced similar extensions. VanEck was the first company to receive such feedback, and they were asked to add more documents to their file while extending the application deadline. The company has received more requests than anyone else in the review cycle, which means Van Eck is probably the first company to make a final decision. The company’s request is expected to be answered by November 14 (November 23).
Gary Gensler, chairman of the US Securities and Exchange Commission, recently expressed interest in reviewing applications for exchange-traded funds on Bitcoin futures under the 1940 US Collective Investment Act. In his remarks, he made no reference to instant trading products subject to the 1933 Securities Act. Under the US Securities Act of 1993, all of these products must be regulated by law enforcement.