SEC postpones decision on Wisdom Tree Bitcoin ETF
On July 13, the United States Securities and Exchange Commission (SEC) delayed its decision on Wisdom Tree’s Bitcoin ETF with a request for public feedback. This application allows the public to express their views on whether the Fund should be approved. The SEC said:
“The Committee invites interested persons to provide in writing their views, data and arguments for the Fund regarding the above issues, as well as any other concerns they may have.”
Public statements must be submitted to the Federal Register within 21 days, objections within 35 days of publication.
The SEC is asking for an opinion on whether the proposed Bitcoin ETF is prone to tampering and whether the exchange’s proposal is intended to adequately prevent fraudulent and manipulative practices and practices. The SEC emphasized:
“The exchange confirms that the manipulation concerns previously expressed by the commission have been mitigated to such an extent that investor protection issues are far outweighed.”
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 many similar applications, including an Ether ETF proposal from Wisdom Tree. If nothing changes, a decision on this Bitcoin ETF could be made this year.
According to Cointelegraph