The Securities and Exchange Commission (SEC) yesterday released an update stating it’s pushing its decision on the VanEck Bitcoin ETF again to February 27, 2019.
According to the replace, the SEC has obtained over 1,600 feedback on the proposed rule change which might allow the launch of the Bitcoin ETF.
Clearly, the SEC is taking its time to guarantee all suggestions has been thought of, and that the market is suitably secure for the discharge of such a buying and selling possibility.
Some would possibly see the delay as additional indicators that the SEC is probably going to approve the ETF, nevertheless, it must be famous that the SEC has to give it full consideration. Just as a result of it’s taking its time doesn’t imply it’s any extra probably.
There’s additionally the chance that the SEC decides to delay its decision once more in February. The solely factor we could be sure of is that there isn’t but a decision.
It wouldn’t be totally stunning if the SEC delayed once more in February.
Just yesterday, Coinbase Pro performed host to an Ethereum “flash crash” which noticed the coin’s worth drop from $100 to $13 for lower than a couple of minutes.
If the SEC is to approve a Bitcoin ETF it has to be confident that the market is robust enough to guarantee authorized and truthful buying and selling.
We simply have to await February to roll round now for the reply.
Published December 7, 2018 — 09:55 UTC