Bitcoin ETF applications from Blackrock, Fidelity, Investco Galaxy, Vaneck and Wisdomtree reach the Federal Register: SEC is faced with decision-making time framework

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Von: Krypto News Österreich

Laut den aktualisierten Aufzeichnungen des Bundesregisters hat das Bundesregister Mitteilungen über vorgeschlagene Regeländerungen für Bitcoin-ETF-Anträge von BlackRock, Fidelity, Invesco Galaxy, VanEck und WisdomTree erhalten. Dieser Schritt gibt der Securities and Exchange Commission (SEC) einen bestimmten Zeitrahmen, um die Anträge zu prüfen und zu entscheiden. Die SEC hat verschiedene Möglichkeiten in Bezug auf die Anträge. Sie kann diese genehmigen oder ablehnen, den Prüfungszeitraum verlängern oder die Anträge zur öffentlichen Stellungnahme öffnen. Die Veröffentlichung im Bundesregister war ein erwarteter Schritt nach der ersten Einreichung der Anträge im Juni. Berichten zufolge hatte die SEC damals die Unterlagen für unzureichend befunden. Die Unternehmen reichten …
According to the Federal Register's updated records, the Federal Register has received communications about proposed changes to the rules for Bitcoin ETF applications from Blackrock, Fidelity, Investco Galaxy, Vaneck and Wisdomtree. This step gives the Securities and Exchange Commission (SEC) a certain time frame to check and decide the applications. The SEC has various options for applications. It can approve or reject them, extend the examination period or open the applications for the public statement. The publication in the Federal Register was an expected step after the first submission of the applications in June. According to reports, the SEC had found the documents inadequate at the time. The companies were enough ... (Symbolbild/KNAT)

According to the Federal Register's updated records, the Federal Register has received communications about proposed changes to the rules for Bitcoin ETF applications from Blackrock, Fidelity, Investo Galaxy, Vaneck and Wisdomtree. This step gives the Securities and Exchange Commission (SEC) a certain time frame to check and decide the applications.

The SEC has various options for applications. It can approve or reject them, extend the examination period or open the applications for the public statement. The publication in the Federal Register was an expected step after the first submission of the applications in June. According to reports, the SEC had found the documents inadequate at the time. The companies then submitted amended applications and named Coinbase as a partner for the joint use of monitoring data.

There are still other Bitcoin ETF applications. The Spot-BTC ETF application from Bitwise was published on July 18 and Valkyrie that is expected to be published on July 21. The SEC initially has a 45-day window to make a decision, but which could be extended to up to 240 days. This means that the final approval or rejection of the applications could not take place until March 2024.

It is interesting to mention that the SEC was subjected to a precise examination in terms of the safety classification of the XRP token and the regulatory approach of the chairman Gary Gensler for regulation by asserting measures. Binance and Coinbase in particular were the destination of seconds in 2023.

The decisions of the SEC in relation to the Bitcoin ETF applications are eagerly awaited, since the approval of such a fund could have significant effects on the cryptom market. A Bitcoin ETF would enable investors to invest in Bitcoin in a simple and regulated manner, which in turn could strengthen confidence in cryptocurrency and potentially lead to wider acceptance.

It remains to be seen how the SEC evaluates the proposed changes of control and whether it gives the Bitcoin ETF applications green light. The investors and the entire crypto community will follow the decisions of the SEC closely, since they could have a significant impact on the future of the cryptocurrency market.