9 bitcoin-ETF applications to get determination within 2 months

Posted 09 August, 2018

The US Securities and Exchange Commission is about to make a final determination on nine bitcoin-ETFs within a 2-month period.

As it was reported, the authority rescheduled the consideration of the application filed by SolidX and  VanEck this week. Specifically, in case of a positive decision, the companies will be able to list bitcoin-ETF on the CBOE. However, there are also other companies that wait for the decision.

According to the available data,  ProShares, Direxion and GraniteShares have lodged 9 applications in total. Notably, they refer to non-physical bitcoin-ETF, compared to  SolidX- VanEck one that covers crypto payments.

The deadlines for the consideration have been set in line with the date of the publication in the US Federal Register. The initial decision is to be made within 45 days after that. It is possible to postpone the deadline for up to 240 days if required.

The decision on ProShares is to be made by August 23. For reference, the initial proposal for changes of the rules to run fund on NYSE Arca was filed in December 2017. At the same time, GraniteShares can receive approval on September 15 (following the application of January 5) and Direxion – September 21.

Meanwhile, SolidX-VanEck ETF will get the final determination on September 30. However, SEC can delay consideration till end-February 2018.

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