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SEC postpones decision on Bitwise ETF again

Key Considerations The US Securities and Exchange Commission has delayed its decision on whether to approve Bitwise’s Bitcoin ETF. The SEC previously postponed its decision in December. The regulator may again postpone things until October 13, 2022. Share this article The SEC has postponed its decision on a proposal for a Bitcoin ETF from Bitwise Asset Management, according to a filing issued by the regulator today.SEC Delays Choice on Bitwise ETFThe filing of the US Securities and Exchange Commission is postponing the approval or rejection of Bitwise’s ETF, which plans to list on ICE’s NYSE Arca exchange in the near future. In the relevant filing, the SEC also made a request for comment. It sought information on expected trading volumes, protection against fraud and manipulation, and other matters. Bitwise and NYSE Arca filed their application in October, proposing a rule change. The SEC postponed its decision on the proposal in December. Prior to this new delay, the regulator should have made a decision today, February 1. Jake Chervinsky of the Blockchain Association noted today that the SEC’s deadline is now August 14. He added that the SEC can only postpone its decision “one more time until a final deadline” of October 13. The SEC has denied many ETFs Bitwise is one of several companies striving to create the first exchange-traded Bitcoin fund, which would provide exposure to Bitcoin’s value without investors actually buying crypto. Despite the SEC’s repeated failure to approve a Bitcoin spot ETF, the company approved several Bitcoin futures ETFs last year. Valkyrie, VanEck and ProShares now offer those investment funds. As such, many in the crypto industry remain optimistic that the SEC will soon approve a Bitcoin spot ETF. Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies. Share this article The information on or accessible through this website was obtained from independent sources believed to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness or accuracy of any information contained on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not provide personal investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may be out of date, or may be incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete or inaccurate information. You should never make an investment decision about an ICO, IEO or other investment based on the information on this website, and you should never interpret or otherwise rely on the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO or other investment. We do not accept compensation in any form for analyzing or reporting ICOs, IEOs, cryptocurrency, currencies, tokenized sales, securities or commodities. See full terms and conditions. New SEC proposal could spell disaster for DeFi exchanges A new proposal from the US Securities and Exchange Commission aims to expand the definition of the organization of a stock exchange. In addition, the SEC may be looking for… SEC Denies Fidelity’s Bitcoin Spot ETF The Securities and Exchange Commission has rejected Fidelity’s Wise Origin Bitcoin Trust, a Bitcoin-based spot ETF. The SEC approved several Bitcoin futures ETFs last year, but the spot ETF has… SEC delays decision on NYDIG. Decision Delayed Until March NYDIG submitted its proposal for… Investment Survey: Win a $360 subscription to Pro BTC Trader We are doing this because we want to be better at choosing advertisers for and explaining to them: “Who are our visitors, what are they worried about?” Answer our questions…
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