SEC postpones decision on Bitcoin-ETF

The US Securities and Exchange Commission (SEC) has again postponed a decision on the admission of a Bitcoin exchange-traded fund (ETF). The proposal submitted by the CBOE was for the introduction of a physically backed Bitcoin ETF called VanEck SolidX Bitcoin Trust. The Commission combines its decision with an appeal to the interested public to comment on individual aspects of the submitted proposal.

And every day the groundhog greets

The decision of the US Securities and Exchange Commission (SEC) to allow itself even more time with regard to Bitcoin ETF comes as no surprise. The Commission does not want to rush into anything – and that is a good thing. In its opinion on the postponement, the Commission pointed out the argumentation of the applicant CBOE. Subsequently, the SEC encouraged the public to examine whether the arguments of the stock exchange were sufficient „to protect investors and the public interest“. This call has a good chance of falling on fertile ground. After all, the SEC had already received over 1,400 comments on the Causa VanEck SolidX Bitcoin Trust by September 19. An overwhelming number of commentators were in favour of approving the Bitcoin ETF.

21 days

The SEC has set a deadline for filing comments of 21 days from the publication of the report. Those who wish to present their arguments or data to the Commission can either complete the form on the SEC website or write a letter or e-mail to the authority.

Mark Preuss is founder and managing director
After studying economics in the Netherlands and China, he held various positions in finance, first in Switzerland and finally in Düsseldorf. Early on, he became enthusiastic about digital currencies and blockchain technology. In the absence of a contact point in German-speaking countries, Mark finally decided at the end of 2013 to launch BTC-ECHO, his own media platform for digital currencies and blockchain. Since then, he has developed BTC-ECHO into the most widely used German-language platform for crypto currencies.