SEC postpones decision on Wisdom Tree Bitcoin ETF
On July 13, the Securities and Exchange Commission (SEC) pushed back its decision on Wisdom Tree’s Bitcoin ETF with a request for a public response. This request would allow members of the public to express their views on whether the trust should be approved or denied. The SEC announcement states:
“The Commission invites interested parties to provide in writing their views, data and arguments on the above issues, as well as any other concerns they may have about the proposal.”
Public statements must be submitted to the Federal Register within 21 days, objections must be submitted within 35 days of publication.
The SEC is seeking comment on whether or not the public believes the proposed Bitcoin ETF is vulnerable to tampering and whether or not the exchange’s proposal is aimed at preventing and manipulating enough fraudulent practices and practices.
The SEC said in the statement:
“The exchange claims that the tampering concerns previously expressed by the Commission have been mitigated to the point that they are outweighed by quantifiable investor protection issues.”
Related: Using Ether ETF File Wisdom Tree with SEC
The initial filing was filed with the SEC on March 26, 2021, and the commission first asked the public for comments in April. On May 26, the SEC set a longer deadline for approving or rejecting the proposed rule change. The SEC is currently reviewing several similar applications like this one, including another from Wisdom Tree for Ether ETFs. A decision on this Bitcoin ETF could be made this year without further delays.