The US SEC postpones a decision on Bitwise’s Bitcoin ETF proposal… again

The regulator was supposed to make a decision by May 16.
The decision on VanEck and SolidX proposals is to be made by May 21.

Tanya Abrosimova Independent Analyst

The US Securities and Exchange Commission postponed the decision on Bitcoin exchange-traded fund (ETF) proposal submitted by Bitwise Asset Management.

The company filed the proposal in January 2019 with the aim to launch Bitcoin ETFs on NYSE Arca. The decision was supposed to be made by May 16. However, according to the recent document published by the SEC, the regulator would hold off on it. The regulator requested another three-week period for public comments.

Bitwise proposed to create Bitcoin-ETF backed by coins physically held by regulated third-party custodians.

Meanwhile, the Commission is supposed to decide on VanEck and SolidX proposals by May 21. The companies requested the change CBOE rules that would allow listing Bitcoin-ETF on the trading platform.

Earlier this month a digital asset and fund manager Crypto Crescent Asset Management proposed to launch a crypto ETF based on both Bitcoin and Ethereum, The company is said to partner with NYSE Arca, though it has not filed its proposal with the SEC yet.

Author

Tanya Abrosimova

Independent Analyst

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