The US Securities and Exchange Commission (SEC) has once again postponed the deadline for considering applications for the launch of exchange-traded funds (ETF) on Bitcoin. Four applications were postponed.
These are applications from Global X, Valkyrie, WisdomTree and Kryptoin. The new terms for consideration of documents are November 21, December 8, 11 and 24, respectively. Previously, Kryptoin, WisdomTree and Valkyrie applications have already been postponed at least once.
“The Commission finds it expedient to set a longer period of consideration, during which it is possible to both approve and reject the proposed rule change. So the Commission will have enough time to consider the change in the rules and related issues, “- emphasized in the statements of the regulator.
The SEC has repeatedly refused in response to such applications, because attempts to launch an ETF on Bitcoin have been going on since 2017. At the same time, the regulator constantly receives new applications for the launch of cryptocurrency ETFs – now more than ten such applications are under consideration by the SEC.
Interestingly, Commission Chairman Gary Gensler is supporting the launch of a narrow class of Bitcoin ETFs that will invest in futures contracts rather than the cryptocurrency itself. The SEC has already received several applications for the launch of such funds.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
