The US Securities and Exchange Commission announced on December 6 that the determination of the bitcoin-ETF application filed by VanEck, SoldX and CBOE will last till late February 2019 meaning that it may use all the time allowed by the law.
The authority released the corresponding notice this Thursday, saying:
"The Commission may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes reasons for such determination".
VanEck lodged the application in June, while later in August SEC decided to extend the period of its consideration. Meanwhile, in September, the commission asked the public to file the comments on this application. For reference, the period for determination, in that case, is 240 days. As SEC commented, it has collected more than 1,600 comments on the proposed rule revision as of December 6.
"December 29, 2018, is 180 days from that date, and February 27, 2019, is 240 days from that date," reads the document.
Following this statement by SEC, prices for cryptos, in particular, bitcoin, plunged to its new bottom of 2018. Earlier, SEC official said that the green light could be given soon or in many years as well.