The announcement, in that the regulator postponed its decision on whether to allow Bitwise Asset Management to list a spot bitcoin ETF, further solicited public comment on the fund. Until then, the SEC said it would initiate proceedings to come to a decision on the evidence of listing of Bitwise Bitcoin ETP Trust on Intercontinental Exevolution Inc’s (ICE.N) NYSE Arca exmovement.
As part of the delay, the SEC asked any interested parties to send in any comments they may have on the certain aspects of the application. These may include details similar as the likely volume of the ETF, or questions about its potential influence on prices in bitcoin futures dealing.
The delay comes as the most recent in the SEC’s rejection of spot bitcoin ETFs by several divergent issuers in recent months. Last week, the regulator rejected Fidelity’s Wise Origin Bitcoin Trust in a new filing, 7 days after rejecting a spot bitcoin ETF application filed by First Trust and SkyBridge Capital. Meanin the time, applications by Valkyrie and Kryptoin had been rejected in December.
In its initial application continue year, Fidelity had proposed a rule development, that would allow investors the ability to access the fund through a traditional brokerage account. After all, endure week’s filing revealed the SEC had rejected the proposed rule shift atop cone time beforerns about fraud, manipulation, and investor protection.
There has been a long renewed sentiment for spot Bitcoin ETFs afterward the SEC hardlyifyd the first Bitcoin futures ETFs carry on year. The ProShares Bitcoin Stcostgy ETF proved to be one of the fastest selling ETFs in history. However, it seemed to capture most of the momentum shaping up to its release, that was consequently lacking for the Valkyrie Bitcoin Stpricegy ETF.
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