The US Securities and Exchange Commission has further delayed a Bitcoin Exchange Traded Fund (ETF).

According to a notification by the SEC on September 8, the agency has now set November 14 as the date it will decide whether to approve or reject the VanEck Bitcoin Trust fund.

There is little explanation for this final delay:

“The committee considered it appropriate to postpone the decision as there would be time to view the proposed rule change and the issues raised in the comments on the matter.

Previously, the Chicago options exchange CBOE proposed a rule change to allow the listing of Bitcoin ETF stocks on March 1, 2021, to be delayed 180 days before a decision is made, resulting in a September 15 deadline that the agency now has postponed for another 60 days.

It’s been two years since CBOE first worked with VanEck and SolidX to submit a rule change proposal to the SEC. VanEck and SolidX applied for a “limited” BTC fund in September 2019 that will only be available to a tiny group of well-known financial companies.

The two companies’ first Bitcoin ETF filings were in June 2018 but were withdrawn in 2019 after the SEC rejected a decision on the capped fund.

VanEck filed another Bitcoin trust application in December 2020. By August 2021, VanEck had applied for an Ethereum futures fund to be listed but withdrew the application only a few days later.

Given the agency’s recent enforcement threats against Coinbase, it is unlikely that any crypto ETF product will be approved this year.

We invite you to join our Telegram for faster news: https://t.me/coincunews

Annie

According to Beincrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page