Update (12:55 UTC, May 21, 2019): The Bitwise ETF proposal has now been published on the Federal Register, kicking off a five-week comment period.
The U.S. Securities and Exchange Commission (SEC) again delayed a decision on whether to approve or rejecta bitcoin exchange-traded fund (ETF) on Tuesday.
In a new document published by the SEC, the regulator said it would hold off on making a decision on the Bitwise ETF proposal filed with NYSE Arca.
The proposal was first filed in January of this year, kicking off a new race to launch a bitcoin ETF in the U.S., which is expected to bring fresh money – and therefore, liquidity – to the crypto space.
Crypto Crescent Asset Management, a digital asset and fund manager, has also proposed a crypto ETF, which would give customers exposure to both bitcoin and ether. The firm, which is partnering with NYSE Arca, has not yet formally filed its proposal, however.
There will be a public comment period for three weeks after the latest document regarding the Bitwise ETF is published in the Federal Register, plus an additional two weeks for responses.
SEC image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.