SEC Opens To Comments On Whether To Approve VanEck Bitcoin ETF
To approve or not to approve…that is the question….yet again.
SEC opens to comments on whether to approve VanEck Bitcoin ETF
“According to a Wednesday filing from the SEC, the regulatory body has not yet reached a decision on whether to approve or disapprove of VanEck’s Bitcoin exchange-traded fund, or ETF, but ‘seeks and encourages interested persons to provide comments’ on the proposal. Specifically, the commission is asking the public to consider whether they believe the Bitcoin ETF would be susceptible to manipulation and designed to prevent fraudulent and manipulative acts and practices.
The SEC also asked people to weigh in on ‘the suitability of Bitcoin as an underlying asset for an exchange-traded product,’ and the liquidity and transparency of the Bitcoin (BTC) market. Existing rules require that national securities exchanges are aimed to ‘protect investors and the public interest.’
Anyone interested in commenting on the proposed Bitcoin ETF will have until 21 days after the order is published in the Federal Register, and 35 days after publication in the same register for rebuttals. Members of public can submit comments through the SEC website, via email, or snail mail.”