The U.S. Securities and Exchange Commission (SEC) has extended the time period it needs to make a decision on the Vaneck Solidx bitcoin ETF based on the proposed rule change filed by Cboe BZX Exchange. Meanwhile, the ETF team has submitted to the SEC key changes addressing all concerns cited as reasons for rejecting Solidx Bitcoin Trust ETF last year.
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Deadline Extended
The SEC announced Tuesday that it has extended the time it will take to make a decision on the proposed rule change to list and trade shares of Solidx Bitcoin Shares issued by the Vaneck Solidx Bitcoin Trust.
SEC building.
Cboe BZX Exchange filed the proposed rule change with the SEC on June 20, which was published in the Federal Register on July 2. This bitcoin ETF has received a lot of attention from the crypto community. “As of August 6, 2018, the Commission has received more than 1,300 comments on the proposed rule change,” the agency wrote.
The Commission explained that the Securities Exchange Act provides that within 45 days of the publication in the Federal Register a longer period may be designated, elaborating:
The Commission is extending this 45-day time period. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change.
The SEC now “designates September 30, 2018, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.” However, this may not be the last time the SEC postpones its decision on this bitcoin ETF. According to
