The US Securities and Exchange Commission (SEC) will decide on the application of the asset manager VanEck for the launch of an exchange-traded fund based on BTC on November 14, which is 60 days earlier than the announced date.
On March 2, the CBOE applied for the listing of a Bitcoin-ETF on behalf of VanEck. On March 18, the SEC started to consider it, however, it postponed the decision twice – in April and June. The regulator required additional public comments “in the light of legal and political aspects.”
According to the current rules, the watchdog has the right to do this three times. After the end of the third such period, the agency “must either approve or reject the proposed changes.”
The SEC has 180 days from the date of filing to review applications. It can postpone the decision for another 60 days if there is sufficient justification.
According to the statement shared by the regulator:
“The SEC considers it justified to set a long period in order to have sufficient time to consider the proposed changes and the issues raised in the letters with comments.”