The US Securities and Exchange Commission (SEC) has postponed the decision on the application for the launch of a traded exchange-traded fund (ETF) for bitcoin, filed by Wilshire Phoenix in May this year.
The SEC still has a number of questions for the public, including about the possible manipulation of the price of ETFs. Although the public discussion began back in June, currently only six people have expressed their attitude to the traded exchange funds for bitcoin.
In addition, next month is the final deadline for the Commission to consider an application for Bitcoin ETFs from Bitwise Asset Management. That is, the SEC will not be able to postpone the decision. Bitwise has repeatedly submitted documents to the SEC confirming that the Bitcoin market is sufficiently developed to launch such a product.
Earlier this month, SEC chairman Jay Clayton said that much was done to dispel regulators’ doubts about the ETF launch on bitcoin. However, this was not enough for the SEC to approve the launch of traded exchange-traded funds for bitcoin, so work needs to be continued.
Recall that recently, VanEck and SolidX have withdrawn their application for the launch of ETFs on bitcoin.