The United States Securities and Exchanges Commission (SEC) said in a notice today that it will still extend its deadline for making a final decision regarding a Bitcoin ETF application submitted in January by Bitwise Investment Advisers LLC.
As per the announcement, the regulator’s decision to delay the decision is to allow more public comments regarding the Bitcoin ETF proposal. So far, data from SEC’s website shows that the regulators received 25 comments regarding the proposed rule change with a majority of respondents, not in favor of approval.
However, the latest delay serves as an opportunity for more people to share their input since NYSE Arca has supplied a response to suggestions posed by respondents on the reason why the SEC should not approve the Bitcoin ETF.
The current public comments window opened by the SEC’s latest notice will last for three weeks while an additional two weeks will be given for Bitwise/NYSE Arca to respond to the comments before the regulators announce its decision.
Meanwhile, as Coinfomania reported last week, the SEC will soon have another crypto-related ETF proposal to review. Digital asset management firm, Crescent Crypto week said last week that it filed a request with the SEC to list an exchange-traded product tracking Bitcoin (BTC) and Ether (ETH).
Aside from Crescent Crypto, the SEC also has a Bitcoin ETF proposal first submitted last year by VanEck Investments and SolidX in partnership with the Chicago Board Options Exchange (CBOE)