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Redwan Eid

5 November 2018

Regulation Cryptocurrency

SEC Reviews 9 Bitcoin ETFs Today

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November 5, 2018 | AtoZ Markets

The U.S Securities and Exchange Commission will review 9 Bitcoin ETFs on November 5, after having rejected them before.

In the details, the SEC had delegated the ruling on the ETFs mentioned to its delegates last August, and the staff acting behalf of the commission made a negative decision on the ETFs filed, however, the SEC still has the power to review the decision its delegates made.

In its note released on Aug. 22, the SEC said: “in accordance with Rule 43 1 (e), the August 22 order is stayed until the Commission orders otherwise. The Office of the Secretary will notify you of any pertinent action taken by the Commission”

The decision can be made any time after today

The 9 Bitcoin ETFs filed were as 5 from Direxion, 2 from Granite Shares and 2 from ProShares.

“Accordingly, IT IS ORDERED, pursuant to Commission Rule of Practice 431, that by November 5, 2018, any party or other person may file a statement in support of, or in opposition to, the action made pursuant to delegated authority”, read the official statement.

The note referred to that the decision might be made any time after November 05, 2018, with any concerned party being able to file comments with regard to the ETFs and would inform the new portals about its decision.

Ruling Rule SEC etf Bitcoin
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