SEC postpones Bitcoin ETF verdict

The Securities and Exchange Commission has once again postponed its verdict on a Bitcoin ETF filing, this time from Bitwise Investment Advisers. The US regulator received the first application for the Bitcoin ETF from the company in January of this year, but faced numerous delays as the SEC said it needed longer to decide.

Along with a filing from VanEck and Solid X, both Bitcoin ETF filings have been prolonged due to the SEC not being able to decide whether to accept or reject the applications. Additionally, the untimely government shutdown conflicted with the SEC’s deadline for VanEck’s application but ended up being withdrawn in fear of it being automatically rejected.

Back in March, the SEC posted a job advert online, seeking an attorney advisor specialising in crypto and digital assets, but the closing date ended last month.

In the most recent notice from the SEC regarding the delay, it asks the public to contribute its comments on the matter, having received 25 letters so far both encouraging and discouraging the approval.

Last week, the regulator received another crypto ETP application from the United States Commodity Index Funds.

The new deadline is scheduled for 14 August, however the SEC has the option available to add a final extension. The SEC is scheduled to announce its decision on the VanEck and Solid X proposal by 21 May.

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