Breaking News – SEC Decision on Cboe’s BTC ETF Postponed
On September 20th, 2018 SEC or The Securities and Exchange Commission has announced that its decision regarding Cboe Bitcoin exchange ETF is set for a later date being postponed. According to the commission’s post.
“Pursuant to Section 19(b)(2)(B) of the Act,30 the Commission is providing notice of the
grounds for disapproval under consideration. The Commission is instituting proceedings to allow for additional analysis of the proposed rule change’s consistency with Section 6(b)(5) of the Act, which requires, among other things, that the rules of a national securities exchange be “designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade,” and “to protect investors and the public interest.”
It has been highlighted that no definite answer or results has been set for the ETF and that SEC is reaching for more comments towards the interested party on the proposal, as quoted below:
“Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below,
the Commission seeks and encourages interested persons to provide comments on the proposed rule change.”
As seen in the first page of the commission’s notice, until the September 19, 2018, it has welcomed more than 1,400 comments on the proposed rule change.
Back in mid July, Ethereum World News had notified its readers on how they could leave comments on the SEC website with regards to the filing of a Bitcoin ETF by the CBOE (Chicago Board Options Exchange) exchange. The filing proposes a rule change to list and trade shares of SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust.