The Securities and Exchange Commission (SEC) postponed a decision on two proposals by the ETF earlier this year.
The first proposal of the ETF, presented by Bitwise, was published in the Federal Register on February 15, with the first 45 hours for an initial decision on the proposal. In general, the Securities and Exchange Commission has 240 days to approve or reject any proposed proposal. Today's decision means that the Committee now has 45 days to consider the proposal.
As a result, the Securities and Exchange Commission (JSC) said on Friday it would approve or reject, or file a lawsuit to determine if it would be rejected, to change the rule proposed before May 16, 2019.
Securities and Exchange Commission and proposals.
According to today's letter, the Securities and Exchange Commission has received 21 comments so far on the proposed rule change.
The SEC is also reviewing the proposal of the ETF VanEck and SolidX, in association with Cboe BZX. The VanEck / SolidX proposal was initially submitted about a year ago, but it was withdrawn in January during the longest partial closure of the government in the history of the United States. Van Eyck, CEO of VanEck, explained that the closure, at least temporarily, stopped conversations between the committee and the companies that made the proposal.
Cboe submitted the proposal at the end of January and it was published in the Federal Register on February 20 as a date for a firm decision or a start of action.
While the Securities and Exchange Commission still has to approve publicly traded funds, prominent voices in the community believe it may occur this year.
In an interview with Rolle Cole published in early February, Commissioner Robert Jackson said he believed the ETF proposal would meet the regulator's final criteria.
Lawyer Jake Chervinsky of the law firm Kim went further. Quindesk said earlier that it was very possible that another 10 months of development in the digital currency ecosystem might be enough to finally guarantee that the ETF