SEC Postpones Bitcoin ETF Decision
The SEC extends review period for VanEck and SolidX ETF to February 27, 2019
The SEC announced today that it has extended the review period to until Feb. 27, 2019 for a proposed rule change that, if approved, would allow the first bitcoin exchange-traded fund (ETF) to be listed. The original proposal was submitted by money manager VanEck, which seeks to market the ETF, and SolidX, the fintech firm seeking to act as sponsor. If approved, the ETF would be listed on the CBOE BZX Equities Exchange. This is the latest in a series of delays and outright rejections by the regulator of similar proposals. In August, the SEC rejected multiple proposals to list bitcoin-based ETFs after similarly extending the review period for those proposals.
VanEck and SolidX initially filed the proposed rule change on June 20, 2018. The SEC stated in its release today that, to date, it has received over 1,600 comments on the proposal.
More Posts
-
The SEC's Division of Trading and Markets and FINRA Issue Joint Statement on Custody of Digital Securities
Blockchain Law Center | (07/09/2019)
-
FinCEN: Guidance Addressing the Regulations Applicable to Certain Business Models Involving Convertible Virtual Currencies
Blockchain Law Center | (05/21/2019)
-
SEC Charges Blockchain Investment Firm with Misleading Investors
Blockchain Law Center | (05/15/2019)
-
FinCEN: Peer-to-Peer “Exchanger” of Virtual Currency is an Unregistered Money Transmitter
Blockchain Law Center | (04/18/2019)
-
The SEC’s Division of Corporation Finance Issues Guidance on Security Status Analysis and Consumptive Tokens
Blockchain Law Center | (04/05/2019)
About Blockchain Law Center
Blockchain technology utilizes a distributed digital ledger to record and track information, and can be leveraged to gain transparency and certainty in transactions ranging from cryptocurrency to supply chain tracking. This blog provides information on the legal developments surrounding implementation of blockchain technology, with an initial focus on the financial services sector.