SEC Delayed Their Decision on VanEck’s Request Again
The U.S.SEC informed that they will decide the destiny of VanEck’s Bitcoin ETF on November, 14th. It’s 60 days earlier than the deadline they’ve mentioned before. The request came in on March 2nd, and the SEC has already delayed their decision twice.
According to the existing rules, they can’t delay it more than three times. As soon as the third extension period expires, the SEC needs to announce its decision or deny the request. Therefore, the review can take up to 180 days.
The SEC explains the extended period of reviewing the request by necessity to have enough time for reviewing the proposals for changes in comment letters. The Bloomberg experts believe that the request is likely to be approved.