Industry Updates

SEC seeks crypto specialist following Bitcoin ETF delays

George Geddes

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The crypto world has been patiently waiting for the US Securities and Exchange Commission to announce its decision on the recent filings for a Bitcoin ETF but they are going to have to wait a little while longer.

Following the SEC opening for comments from the public on a Bitcoin ETF, the governing body has delayed making a decision on the pending ETF filings from Bitwise Asset Management and VanEck. Since the announcement, the SEC has launched a job vacancy for a full-time crypto specialist to coordinate the division of trading and market’s activities.

Bitwise submitted its ETF filing earlier this year but has now received a second extension for the its deadline. The most recent extension postpones the cut off point by another 45 days, meaning the SEC must give its verdict by 16 May. The SEC has a total of 240 days to either approve or reject the proposal.

Prior to Bitwise’s proposal, VanEck and Solid X partnered for the first filing of a Bitcoin ETF which was withdrawn as the deadline conflicted with the government shutdown back in January. VanEck and Solid X didn’t hesitate to resubmit their proposal once the shutdown was lifted however this proposal has also been extended until 21 May. This is the first extension the recent filing has received.

The same day the SEC announced the deadline extension for the Bitcoin ETF proposals, an advert for an Attorney Advisor specialising in crypto opened on Based in Washington US, the new full-time recruitment will be providing expert level comments on policies as well as developing the legality of crypto usage within domestic and foreign jurisdictions for the SEC.

The timeliness of this job vacancy suggests the SEC is actively trying to develop its knowledge and understanding of the digital asset space to ensure the correct decision is made.

Closing in under two weeks, the vacancy asks for a law graduate with membership of the bar and could earn between $145,000 and $240,000.

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