SEC Final Decision on VanEck Bitcoin ETF Now Set For February – Bitcoinist.com

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SEC Final Decision on VanEck Bitcoin ETF Now Set For February - Bitcoinist.com

Expectedly, the US Securities and Exchange Commission has as soon as once more delayed its determination on the commodity-backed VanEck/SolidX bitcoin ETF proposal. The Commission is left with no room for additional delays and absolutely the last determination will come on February 27, 2019. 


Bitcoin ETF: The Last Delay

In July Bitcoinist reported that the SEC’s determination on the commodity-backed VanEck/SolidX bitcoin ETF proposal is more likely to are available 2019.

What Is An ETF?

The Commission has delayed its determination a number of instances, the final of which befell yesterday December 6. However, this was lawfully their final probability to take action, and because it’s outlined within the order itself, the SEC should approve or disapprove the proposed rule change on February 27, 2019.

…the Commission, pursuant to Section 19(b)(2) of the Act, designated February 27, 2019, because the date by which the Commission shall both approve or disapprove the proposed rule change.

Earlier in September, Elad Roisman, picked by President Trump, was authorized as the latest SEC Commissioner, comprising a senior line-up which ought to, sooner or later, again a Bitcoin ETF.

According to authorized professional Jake Chervinsky, although, Commissioners won’t play a task within the February 27 deadline. He defined:

The determination might be made by SEC workers within the Division of Trading & Markets. The Commissioners solely get straight concerned if there’s a evaluate of the workers’s preliminary determination. For the February 27 deadline, the Commissioners aren’t significantly related.