Abstract : If SEC doesn’t postpone the decision deadline, it will definitely deny VanECK’s proposal. And SEC is likely to delay one more time for a final deadline of October 18.
May 21 (ChainDD) The US Securities and Exchange Commission (SEC) announced on May 20 EST that it postponed its decision on approval a Bitcoin ETF issued by VanEck and SolidX. It invited interested persons to submit views regarding whether the ETF proposal should be approved or disapproved by 21 days from publication in the Federal Register, and anyone who wishes to file a rebuttal to any other person’s submission must file by 35 days from publication in the Federal Register.
The announcement means that SEC delayed its decision deadline by three month, since its last deadline is May 16, 2019. Jake Chervinsky, a Defense Counsel in U.S. government criminal investigations, commented via his Twitter account that SEC can and is likely to delay one more time for a final deadline of October 18.
According to ChainDD’s previous news, the abovementioned Bitcoin ETF was regarded as the most promising Bitcoin ETF that can obtain the approval. The original deadline for SEC’s decision on approval is February 27. Earlier May 20, Chervinsky commented that VanEck should have a chance to address the SEC’s grounds for disapproval. He thinks VanEck’s proposal is worthy of SEC’s consideration and if SEC doesn’t postpone the decision deadline, it will definitely deny VanECK’s proposal.