The Securities and Exchange Commission (SEC) has issued a notice this Thursday, according to which an application for the establishment of a tradable bitcoin fund (ETF) issued by VanEck in conjunction with the Cboe BZX Exchange and SolidX, could be used this time as required by law.
"The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change," the official report states.
The VanEck application was firstly filed on June 20.
On August 7, SEC announced it would continue to examine it, since it wasn’t ready to make a decision at that moment, and on September 21 it called on the public to comment on this.
It’s worth noting that the maximum allotted time for the SEC in such cases is 240 days.
December 29, 2018, is 180 days from that date, and February 27, 2019, is 240 days from that date.
Earlier, Representatives of VanEck, SolidX, and Cboe BZX Exchange one more time met with SEC to present new arguments of why the market was ready to accept bitcoin-ETF. From the SEC side, the meeting was attended by representatives of the corporate finance, trading, and market departments, as well as the office of the General Counsel.
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