The SEC Postpones the Trial of Bitcoin-ETF VanEck-SolidX Again
The US Securities and Exchange Commission (SEC) officially confirmed the postyponing of the decision regarding Bitcoin-ETF VanEck-SolidX. The document, which is published by the company, specifies the exact date, namely September 30, when the final verdict of the SEC will be announced.
Earlier, we already mentioned frequent postponing of the regulator's decisions. Representatives of the SEC in the published document tried to argue the reason for such hyphenation, explaining that they need additional time to think about the situation, so even the appointed date can be postponed again.
“Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,6 designates September 30, 2018, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SRCboeBZX-2018-040).”
The exchange fund, which is considered by the SEC, is invested by VanEck and SolidX. It is assumed that the fund will be represented on the CBOE Chicago Exchange, which, under current rules, can't conduct a listing of the fund. Therefore, the SEC has a little less than 2 months to consider a proposal for changing the rules that will allow CBOE to use Bitcoin-ETF.
To date, the SEC isn't the first time, using its position, postpones the removal of the solution on the topic bitcoin-ETF. So last month, the Commission by analogy postponed the date of the decision on the investment firm Direxion on bitcoin-ETF until September 21.