For the SEC, a countdown has begun. Commissioners must make a final decision about Bitcoin-ETF in the next 45 days. The US Securities and Exchange Commission must decide on the status of BTC-ETF for three companies by April 5 of this year.
The latest Bitcoin ETF offer, submitted for the second time by VanEck, SolidX and Cboe BZX Exchange, was officially published in the Federal Register on Wednesday, February 20th. Recall that the first BTC-ETF proposal was submitted for the SEC on February 13th.
Interesting in the section: Cryptocurrency funds (ETF) and their types
SEC: the final decision
After the publication of the official proposal, the SEC has three weeks to consider applications (until March 13), and then another three weeks for making a decision (until April 5).
Now, the BTC-ETF offer has appeared in the "State Inspectorate" section on the Federal Register website. The US government magazine, the Federal Register, published the official "Notice to the Securities and Exchange Commission on February 20, 2019".
The message is entitled: "Notice of the submission of proposed rule changes for trade lists and exchange of shares in BTC-ETF SolidX, issued by VanEck SolidX trust company, in accordance with rule 14.11 (e) (4) BZX, commodity-based trust shares."
If approved, Bitcoin-ETF could potentially bring new positive liquidityLiquidity
– is a term that means the ability to sell any financial assets (below or above the market price). The term “liquidity” in Latin means “liquid”, “flowing”.Details to the cryptocurrency market. However, it is important to remember that the SEC can take advantage of the rule of "three extensions of the solution" of any proposals. This means that months can pass before a final decision is made on any of the digital gold ETFs.
Interesting in the section: Advantages of Monacoin
The SEC Commission has 45 days to make a decision about Bitcoin-ET. Recall that individual Commissioners are no longer one-time positively describing their attitude to cryptocurrencies.
Editor: Alyona Nabok