US SEC Sets October 26 Deadline for Reviewing Nine Bitcoin ETF Applications

October 6, 2018

 

The U.S. Securities and Exchange Commission (SEC) has outlined a time frame for reviewing proposed rule changes related to a series of applications to list and trade various Bitcoin (BTC) exchange-traded funds (ETFs).The review period affects nine separate ETFs that have been proposed by three different applicants, according to documents filed by the SEC yesterday, Oct. 4.

The new amendments affect a pair of BTC ETFs that had been submitted by ProShares in conjunction with the New York Stock Exchange (NYSE) ETF exchange NYSE Arca. The other aff ected applications are the five further proposed ETFs from Direxion, also for listing on NYSE Arca – and two proposals from GraniteShares, for listing on CBOE. The SEC has solicited  “any party or other person” to file a statement in support or rejection of the proposed BTC ETFs by Oct. 26.

The regulator has outlined that its prior orders disapproving proposed rule changes for all three applicants’ proposals will remain in effect pending the Commission’s review.

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