US SEC Sets October 26 Deadline for Reviewing Nine Bitcoin ETF Applications

by | Oct 6, 2018 | Bitcoin, Cryptocurrency, Cryptocurrency News

SEC | US SEC | BItcoin ETF | ETF Approval | ETF Rejection

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.

Read More: CFTC Chairman Explains Why US Has Regulated Bitcoin Futures But Not Bitcoin ETFs

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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