The SEC has again delayed its decision on whether to allow a proposed rule change that would enable the VanEck SolidX Bitcoin Trust exchange-traded fund (ETF) to issue and list its shares.
According to a filing published on Thursday by the SEC, the public has 21 days from when the order is published in the Federal Register to submit comments on the ETF, and rebuttals to those comments are due 35 days after such publication.
As highlighted by attorney Jake Chervinsky in a recent tweet, the SEC has a new deadline of August 19, but investors should fully expect there to be another delay pushing things to the final deadline of October 18.
As expected, the SEC has delayed the VanEck bitcoin ETF proposal. Read the order here: https://t.co/OB3TBgVGwg.
VanEck's new deadline is August 19. The SEC can & likely will delay one more time for a final deadline of October 18.
Looks like this ended up the right explanation: https://t.co/bkzeVRt1Hg
— Jake Chervinsky (@jchervinsky) May 20, 2019
This news comes just a week after the SEC delayed the Bitwise ETF proposal. Despite the bearish outcome, Bitcoin continues to trade steady as investors brush off the news as it was largely to be expected.
Bitcoin is currently up 0.5% on the day to around $7,960, giving the largest digital currency a $140.95 billion market cap.
More: May 20 SEC Filing
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.