US SEC Postpones Decision on a Bitcoin ETF Proposed list on NYSE Brethren
[ChainDD report] May 15 (ChainDD) The U.S. Securities and Exchange Commission (SEC) announced on May 14 EST that it decided to postpone its decision on whether to approve or disapprove a Bitcoin ETF proposed by Bitwise Asset Management, a digital currency investment firm, because NYSE Arca, another renowned exchange of New York Stock Exchange (NYSE)’s parent the Intercontinental Exchange (ICE), refiled a rule change proposal to list the ETF. SEC will initiate the public comment for three weeks after proposal related to the ETF is published in the Federal Register, and then take two weeks to response.
ChainDD noted that SEC originally has to make its decision at the end of March, 2019, but it delayed the deadline to May. This is the second postpone.
According to ChainDD’s previous news, the Bitcoin ETF, proposed by digital currency investment firm Bitwise, is scheduled to list this year and claimed as a physically held Bitcoin ETF. Unlike other proposed Bitcoin ETFs, the ETF will rely on regulated third parties to hold its physical Bitcoin. NYSE Arca is the first all-electronic exchange in the U.S., as well as the top U.S. exchange for the listing and trading of ETFs. More than 8,000 U.S.-listed securities are traded on the exchange.