In April, the U.S. Securities and Exchange Commission (SEC) postponed its decision on VanEck’s ETF application until June 17. But almost two months later, the agency does not appear ready to make its decision.
A Wednesday filing from the SEC confirms that the regulatory body has not made a decision to approve or reject VanEck’s application for Bitcoin exchange-traded funds. Instead, the SEC wants “interested persons to provide comments.” Specifically, the financial watchdog is seeking the public’s opinion on whether the Bitcoin ETF would be susceptible to manipulation, as well as their views regarding “the liquidity and transparency of the bitcoin markets, the susceptibility of the bitcoin markets, bitcoins to manipulation and thus the suitability of bitcoin as an underlying asset for an exchange-traded product. “
The order came a day before the June 17 deadline, suggesting that the SEC is trying to buy more time. The proposed Bitcoin ETF is open for comment for the next 21 days after the order is published in the Federal Register. Meanwhile, rebuttal comments must be submitted within 35 days of posting to the same record.
As reported by BTC PEERS, VanEck filed the documentation for its Bitcoin ETF with the SEC in December 2020. The commission has already extended the decision window from May 3 to June 17. It seems that those who are waiting for a US-based Bitcoin ETF will wait a bit longer.
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