December 5, 2023

SEC once again postponed deciding on Bitcoin ETF applications

The US Securities and Exchange Commission (SEC) has once again postponed rulings on three applications for...the launch of Bitcoin's traded exchange traded funds (ETFs).

Applications were submitted this year by Bitwise.Asset Management, VanEck and SolidX, as well as the Wilshire Phoenix Foundation. It is reported that a decision on the Wilshire Phoenix Foundation application should now be made by September 29, and Bitwise, VanEck, and SolidX applications will be reviewed by October 13 and 18, respectively.

Note that the regulator has repeatedly transferredthe deadlines for deciding on Bitcoin ETF applications, explaining this with “fears of fraud” in the industry. To date, the Commission has not approved a single application for the launch of exchange traded funds tied to bitcoin.

Formerly Digital Strategy DirectorVanEck Assets Gabor Gurbacs said the SEC should approve Bitcoin ETFs if it wants to support the US economy. The launch of such funds may be an impetus for the development of the American economy for the next decade.