The US Securities and Exchange Commission has filed for approval from WisdomTrees Bitcoin Exchange Traded Fund (ETF) from May 30th to July 14th. The regulatory authority has also postponed VanEck’s ETF application by June 17th.
The SEC exercised its powers by posting the original date of March 30.
It generally takes 45 days for financial regulators to make a preliminary decision on whether to approve an ETF. The SEC also has the right to extend the review period up to 240 days.
In the official SEC report, the regulator will extend WisdomTree’s application review for an additional 45 days, stating that:
“The Commission considers it appropriate to set a longer period of time to respond to the proposed rule change so that it has sufficient time to review the proposed rule change and the comments received.”
WisdomTree filed an Ethereum ETF application in late May. ETH, tThe second largest cryptocurrency by market capitalization rose 3.85% in the past 24 hours to $ 2,719.78, so . During the intraday, Bitcoin was trading at $ 37,637.89.
The SEC regulations have so far rejected all proposals to securitize Bitcoin in an ETF due to its extreme volatility and concerns about price manipulation. However, proponents of the leading crypto asset believe that uncertainty will change as Bitcoin matures as an asset class.
More than eight Bitcoin ETF applications are currently awaiting approval from the U.S. SEC to offer Bitcoin ETFs. These To the US companies belong loyalty Investments, VanEck Associates Corp, NYDIG Vermögensverwaltungsgesellschaft, Valkyrie Digital Assets, WisdomTree Investments and SkyBridge Capital, led by Anthony Scaramucci.
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