SEC Postpones Deadline for Final Decision on VanEck's Bitcoin ETF
SEC Postpones Deadline for Final Decision on VanEck's Bitcoin ETF By Editor DailyBitcoin Editor

Once again, the U.S. Securities and Exchange Commission postpones a decision on a Bitcoin

ETF.

***

This seems like the never-ending story. So far no Bitcoin exchange-traded fund (ETF) application with the U. S. Securities and Exchange Commission (SEC)

has moved forward, let alone achieved approval.

Many were hopeful that VanEck’ s ETF application,

because of its features, will be a game changer. But it won’t be known until now. The decision has been postponed again, as it was with the previous ones.

The SEC has once again delayed the ruling on VanEck’

s ETF.

Yesterday, the U.S. regulator gave itself until Nov. 14 to approve or reject “VanEck Bitcoin Trust,” one of the first Bitcoin

ETF hopefuls to try its luck in this filing cycle, and the first whose verdict has been delayed three times.

But this is important, given that this date will indeed be final. The SEC can only extend its consideration period for potential ETFs three times. Unless it rules one of the many other Bitcoin ETF applications in the interim, Nov. 14 will give a final answer on where VanEck’ s offering stands , Coindesk

says

Asset managers have been quick to modify their offerings in recent weeks, featuring ETFs based on the Bitcoin futures

markets instead of the bitcoin spot market.

The change in strategy followed SEC Chairman Gary Gensler’s statements that futures may be preferred. In fact, VanEck’ s product is based on exposure to futures and other investment vehicles

.

The SEC has been in the news this week, after Coinbase CEO Brian Armstrong claimed that he received

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a warning from the regulator for an investment product with USD Coinloans. Also, following this, a former federal prosecutor expressed that “the SECwill do everything it can to control the crypto space”.

Sources: Coindesk, SEC, archive

Version and translation by DiarioBitcoin

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