SEC again extends review of VanEck’s Bitcoin ETF filing

The U.S. Securities and Exchange Commission (SEC) postponed the decision on VanEck’s bitcoin-ETF filing to July.

The regulator said it needed additional public comments “in light of legal and political questions arising from this proposal.”

Interested parties should answer questions about the extent to which the ETF is vulnerable to “market manipulation” and “fraud.” Separately, the SEC asks for characterization of changes over the past five years in the “transparency” of Bitcoin, as well as the “capacity and regulation” of the Bitcoin futures market on the CME.

Earlier this year, the SEC began reviewing VanEck’s application on March 18. In late April, the Commission extended the deadline to June 17, 2021. By law, the regulator may extend this deadline by up to 240 days.

In June, the SEC delayed the review of Kryptoin’s application to launch a bitcoin ETF. Earlier in May, the Commission made a similar decision regarding WisdomTree’s product.

In March, Brazil’s regulator (CVM) approved a bitcoin-based ETF. Canada’s financial authorities were the first in the world to take this step.

Subscribe to ForkLog news on VK!