According to a filing from the U.S. Securities and Exchange Commission (SEC), the regulator once again delayed passing judgement on the VanEck Bitcoin Trust, but “seeks and encourages interested persons to provide comments” on the proposal.
The SEC renders a decision on prospective applications within 45-day windows and can take up to 240 days to make a decision. This is the second time it has extended the review period on the VanEck bid.
“The Commission requests that interested persons provide written submissions of their views, data, and arguments with respect to the issues identified above, as well as any other concerns they may have with the proposal. In particular, the Commission invites the written views of interested persons concerning whether the proposal is consistent with Section 6(b)(5) or any other provision of the Act, and the rules and regulations thereunder. Although there do not appear to be any issues relevant to approval or disapproval that would be facilitated by an oral presentation of views, data, and arguments, the Commission will consider, pursuant to Rule 19b-4, any request for an opportunity to make an oral presentation”, according to SEC.
VanEck submitted the paperwork to apply for a Bitcoin ETF with the SEC in March following the asset manager withdrawing a similar application it had filed in January in partnership with blockchain startup SolidX. The commission has already extended the deliberation window once, from May 3 to June 17.
Read more:
- Canadian Purpose Bitcoin ETF Has Been Reaccumulating BTC Since Mid-May, A Sign That Investors Are Keen To Buy The Dip
- WisdomTree Has Filed For An Ethereum ETF, Becomes The Second U.S. Fund To Also Vie For An Ether Product, After VanEck