U.S. Securities And Exchange Commission Delays Bitwise Bitcoin ETF Approval Decision
According to a new document released by the U.S. Securities and Exchange Commission(SEC), they have delayed the decision to approve or reject a new exchange-traded fund (ETF). The regulatory agency explained that they will be waiting so as to make a decision regarding the Bitwise ETF proposal that was filed with NYSE Arca.
SEC Delays ETF Approval
The U.S. Securities and Exchange Commission has decided to delay the approval of a Bitcoin ETF. This proposal made by Bitwise was presented and filed back in January 2019. This was the beginning of a new attempt to have a Bitcoin ETF approved by regulators in the United States.
At the end of March, the SEC postponed a decision related to the Bitwise and VanEck/SolidX proposals. The SEC has yet to approve a Bitcoin ETF that would allow new investors to enter the market and be able to have exposure to digital assets and virtual currencies.
It is worth mentioning that Crypto Crescent Asset Management has also proposed a cryptocurrency ETF that could give customers exposure to Bitcoin (BTC) and Ether (ETH). However, this firm has not yet filed the proposal with the regulatory agency. It will take some more time for this proposal to be analyzed and eventually approved or rejected.
At the same time, there is going to be a new comment period for three weeks after the release of the last document related to Bitwise and its ETF proposal.