Bitcoin ETFs Delayed Again as SEC Seeks Comment on Fund Plan
Bitcoin ETFs Delayed Again as SEC Seeks Comment on Fund Proposal
(Bloomberg) -- The wait for an exchange-traded fund that invests in Bitcoin has been pushed out until at least the end of the year as the U.S. regulator seeks comments on a listing request.
Despite already receiving more than 1,400 comment letters on a proposal to list an ETF from Van Eck Securities Corp. and SolidX Management, the Securities and Exchange Commission is inviting more feedback, the agency said Thursday in a filing. Those who wish to comment have 21 days after the SEC’s order is published in the Federal Register, while rebuttals have 35 days from that date.
The agency now has until at least late December to decide whether to approve or disapprove the ETF, with another two month extension possible, according to a timetable laid out in legislation.
The SEC is seeking views on market manipulation -- including whether Bitcoin is less susceptible to manipulation than other commodities that back exchange-traded products -- as well as surveillance.
A spokesperson for the SEC declined to comment.
--With assistance from Lily Katz.
To contact the reporter on this story: Rachel Evans in New York at revans43@bloomberg.net
To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka
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