SEC delays decision on WisdomTree's proposed bitcoin ETF

advertisement

The Securities and Exchange Commission last week delayed its decision on whether Cboe bZx will be able to list WisdomTree's proposed bitcoin ETF. 

On May 26, the SEC announced that it would be pushing back its decision on the listing from May 30 to July 14 "so that it has sufficient time to consider the proposed rule change and the comments received."

The rule change itself is simply to allow listing of WisdomTree Bitcoin Trust or BTCW. WisdomTree filed a prospectus with the SEC on March 11, while the Cboe proposed the rule change on March 26. 

Since that time, the SEC has received only four comments. However, the commission has a history of stalling or rejecting applications for Bitcoin ETFs.

At the end of April, Cboe's proposal to list VanEck's ETF received a similar delay. To date, none has launched in the U.S., though some see the emergence of several Bitcoin ETFs on the Toronto Stock Exchange as a good omen. 

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

DAOs: An Institutional Guide to Decentralized Governance

Arca provides fundamental information about decentralized autonomous organizations (DAOs) for institutions transitioning into the age of tokenized ecosystems. This guide explores the components, purpose, functions, and practical applications of these nascent entities and the opportunities and challenges for this compelling governance approach.
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More