There’s some confusion! The US Securities and Exchange Commission (SEC) will likely delay its decision on the CBOE Bitcoin ETF proposal into March 2019, according to legal expert Jake Chervinsky.
Readers may note that this application has nothing to do with the one filed by two other companies, VanEck and SolidX, which are currently pending for approval from the SEC.
The proposal, that everyone is anxiously awaiting the outcome on, refers to CboeBZX-2018-040, which seeks to list and trade shares of SolidX Bitcoin Shares (the “Fund”) issued by the VanEck SolidX Bitcoin Trust (the “Trust”) on the Cboe Exchange.
Earlier this year, a company listed on the New York Stock Exchange, Arca, filed with the Securities and Exchange Commission, a proposed rule change to list and trade shares Direxion exchange-traded products under NYSE Arca Rule.
The post which is available in public stated that,
“Arca wished to trade Direxion, more specifically, Direxion Daily Bitcoin Bear 1X Shares, Direxion Daily Bitcoin 1.25X Bull Shares, Direxion Daily Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull Shares, and Direxion Daily Bitcoin 2X Bear Shares.”
Legal expert Bitcoin ETF proposal. He wrote:
“The SEC can, and probably will, delay its decision on the VanEck/SolidX commodity-backed Bitcoin ETF until ~March 4th, 2019.”
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