The famous Bitcoin ETFs seem never to arrive, in fact, the US SEC (Securities and Exchange Commission) reports in a memo that it has delayed the decision by a further 45 days from today, establishing May 16th as the final date.
“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, designates May 16, 2019 as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR-NYSEArca-2019-01)”.
Obviously, this is a date that is unlikely to be met, since, as we read at the beginning of the memo, the Commission could further delay the process and take more time.
For this reason, during these next 45 days, it is not certain that the SEC will be able to make a decision and examine the matter.
Jake Chervinsky, member of the Government enforcement defense & securities litigation at Kobre & Kim, explained in a tweet:
The SEC has extended its deadlines to approve or deny the Bitwise and VanEck bitcoin ETF proposals to May 16 and May 21, 2019. The SEC can, and almost certainly will, delay both ETF proposals two more times.
The SEC's *final* deadlines will be October 13 and October 18, 2019.
— Jake Chervinsky (@jchervinsky) March 29, 2019
According to this statement, we will have to wait until October 2019 for a final decision.
