SEC delays decision on Wisdom Tree Bitcoin ETF

The Securities and Exchange Commission (SEC) has put the decision on a Bitcoin ETF on hold until September 30. The decision was initially expected to be made on June 30, but was later delayed.

The Securities and Exchange Commission has delayed its decision on whether to approve a proposed ETF that would track the price of bitcoin. The delay will give the company and its backers more time to convince the SEC that the ETF should be approved.

On the 13th. In July, the Securities and Exchange Commission (SEC) delayed its decision on Wisdom Tree’s bitcoin ETF and asked for public comment. This call allows members of the public to express their views on the approval or rejection of the Trust. The SEC notice states:

The Commission invites interested parties to submit their views, data and arguments on the above issues, as well as any other objections to the proposal, in writing.

Public comments must be submitted within 21 days of publication in the Federal Register and public comments must be rebutted within 35 days of publication.

The SEC seeks to determine whether the public believes that the proposed Bitcoin ETF would be vulnerable to manipulation and whether the Exchange’s proposal adequately seeks to prevent fraudulent and manipulative activities and practices.

This is according to a press release from the U.S. Securities and Exchange Commission:

The Exchange argues that the manipulation issues previously raised by the Commission have been adequately addressed because they are outweighed by quantifiable investor protection issues.

Related: Wisdom Tree files ether ETF with SEC

The application was originally filed with the SEC on March 26, 2021, and the Commission received initial public comments in April. On the 26th. In May, the SEC set an extended deadline to approve or disapprove the proposed rule change. The SEC is currently reviewing many similar applications, including Wisdom Tree’s for an Ether ETF. If there are no further delays, a decision on this bitcoin ETF could be made later this year.

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