Once again…SEC postpones decision to consider VanEck’s Bitcoin ETF
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Answer Once again…SEC postpones decision to consider VanEck’s Bitcoin ETF
The US Securities and Exchange Commission (SEC) has postponed its decision on the VanEck Bitcoin ETF called the VanEck Bitcoin Trust.
This is the second time this week that the SEC has retracted a decision on the Bitcoin ETF.
On June 15, the SEC also postponed its decision on Kryptoin’s ETF file.
The Securities and Exchange Commission (SEC) has not yet approved any bitcoin ETF, with the body’s chiefs frequently citing manipulation and a lack of transparency in the cryptocurrency market as major reasons for rejection or postponement.
The SEC’s postponement came as the SEC also asked the public to comment on several key questions related to the “VanEck” filing.
Read:Who is behind the transfer and offloading of 1 billion dollars worth of the fourth largest Bitcoin wallet?
The SEC questions whether the deposit is vulnerable to manipulation, and if the public believes that the cryptocurrency industry has changed since 2016, especially as VanEck’s deposit promises that the Bitcoin ETF offered will limit any possibility of manipulation, and the entire process will be transparent.
The surveyed public has 20 days to submit any comments on the above.
Commentators can submit their answer electronically Via the SEC portal.
SEC Authority and Bitcoin ETF Journey:
VanEck’s first deposit came in June 2018 through the VanEck SolidX fund.
The company eventually withdrew this deposit in September 2019.
New York-based VanEck resubmitted a new order in December 2020, called VanEck Bitcoin Trust.
In March 2021, VanEck proposed an amendment to the filing.
The SEC has delayed this filing until April 2021, according to a statement from the SEC.
For the SEC to announce again its second postponement of the same deposit.
Read:Brazil Launches Its First Environmentally Friendly Bitcoin ETF…Details Here
If approved by the SEC, the VanEck Fund will trade on the Cboe exchange.
Although many have predicted that 2021 will be the year the SEC approves a Bitcoin ETF, the authority continues to be very cautious.
Read also:
Invesco plans to launch two crypto-based ETFs
VanEck applies to SEC for approval of Ethereum ETF
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