The us securities and exchange Commission (SEC) is expected to make final decisions on nine exchange traded funds (ETFs) tied to bitcoin within the next two months, CoinDesk reports.
On Tuesday, the SEC postponed the time of consideration of the application of SolidX and VanEck, which, if approved, will allow them to release their bitcoin-ETF to the CBOE exchange. However, the SolidX and VanEck application filed in June is not the only one pending with the SEC.
ProShares, Direxion and GraniteShares have sent a total of 9 applications, but all of them refer to the "non-physical" bitcoin-ETF, while the proposed SolidX and VanEck tool provides for payments in cryptocurrency.
The deadlines for the consideration of these applications are set in accordance with the date of their publication in the us Federal register, after which the SEC has 45 days to make an initial decision. If necessary, the Commission can postpone the date of consideration for a period limited to 240 days.
The last day the SEC can decide on the ProShares funds is August 23. The proposal to change the rules, which may allow the company to launch its instruments on the NYSE Arca exchange, was originally issued on December 4, 2017.
In September, the deadline for consideration of applications of two more companies. GraniteShares should receive the decision on September 15 after addressed in SEC on January 5, and Direxion – on September 21.
Following the date on which the SEC can make a decision on the proposal SolidX and VanEck is September 30. However, the Agency has the authority to postpone the process until the end of February next year. The SEC may also make a Declaration before the deadline, as was the case with the last postponement of the deadline.