US SEC Sets October 26 Deadline for Reviewing Nine Bitcoin ETF Applications
The U.S. Securities and Exchange Commission (SEC) has been behaving quite sternly towards cryptocurrency regulations, especially when it comes to their decision over Bitcoin exchange-traded funds (ETFs). In their attempt of giving the ETFs a fair chance, the SEC decided to review their decision over nine rejected ETF proposals. The regulator has now outlined a time-frame for reviewing proposed rule changes.
According to documents filed by the SEC on Oct. 4, the review period will accommodate nine separate ETFs, applied by three different applicants. The applicants that will be affected by the new amendments include two bitcoin ETFs by ProShares in conjunction with the New York Stock Exchange (NYSE) ETF exchange NYSE Arca, Five other proposed ETFs from Direxion, also to be listed in NYSE Arca and 2 proposals from GraniteShares, for listing on CBOE.
The SEC has asked “any party or another person” to file a statement in favor or against the proposed BTC ETFs by Oct. 26. Furthermore, the regulator dictated that the prior orders disapproving proposed rule changes for all the nine proposals will remain in effect pending the Commission’s review.
The SEC has also released a separate notice, that elaborate amendment to specific changes and clarifications that had been put forward by GraniteShares regarding its proposed models of operation. In August, SEC slapped down 9 Bitcoin ETF proposals, but a day after SEC decided to review them.
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