1 year ago
The U.S. Securities and Exchange Commission (SEC) connected Friday asked for further nationalist feedback connected a connection to database a spot bitcoin exchange-traded money (ETF), apt delaying immoderate determination connected the high-profile applications.
SEC Seeks Public Opinion connected Spot Bitcoin ETF
The SEC enactment retired a 34-page request for comment connected the Ark Invest and 21Shares application, seeking views connected whether the connection meets regulatory standards. The determination pushes immoderate determination connected the bitcoin ETF beyond the initially reported August deadline.
The bureau asked for nationalist input connected concerns astir imaginable manipulation of the projected ETF and the underlying bitcoin market. It raised questions astir whether the CME bitcoin futures marketplace is simply a “regulated marketplace of important size” for the spot ETF.
The SEC besides seeks feedback connected the liquidity and ratio of bitcoin markets and plans for the ETF sponsors to stock surveillance information with the agency. “Written data, views, and arguments” are owed successful 21 days, the petition details.
This marks the latest roadblock for support of a spot bitcoin ETF aft years of applications. The SEC has greenlighted bitcoin futures ETFs but resisted spot funds implicit worries astir manipulation and insufficient regularisation of crypto markets.
Friday’s petition apt extends the agelong hold for a spot bitcoin ETF, which issuers accidental would supply a safer mode for mainstream investors to summation exposure. The SEC volition measurement the caller feedback earlier making immoderate last determination connected the Ark and 21Shares application. The elder ETF expert for Bloomberg, Eric Balchunas, said the SEC determination was “pretty standard.”
What bash you deliberation astir the SEC’s petition for remark from the public? Share your thoughts and opinions astir this taxable successful the comments conception below.
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