Bitcoin ETF Decision Postponed By SEC Until Sept 30th
After 1300+ comments, SEC decides it's appropriate to delay decision
The SEC issued a statement today confirming that their decision on the Cboe BZX Exchange application would be postponed until 30th September 2018 at the latest.
In a written memo, the Commission determined that a longer period of consideration was “appropriate” in coming to this conclusion. The Securities and Exchange Commission has received over 1,300 comments pertaining to the proposed rule change, which would allow Cboe to create Bitcoin Exchange Traded Funds (ETFs). The ruling will doubtless disappoint Bitcoin advocates who were hoping for a swift resolution to the question. The markets were down considerably on the news. Bitcoin (BTC) is down 4.68% over the past 24 hours and is currently trading at $6,644.64 on Coinbase. BTC dominance is at 48.1% and the total cryptocurrency market cap is down 6.67% and is currently at $237 Billion.