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The Latest SEC Bitcoin ETF Proposal Amendments and What They Mean

October 05, 2018

The Securities and Exchange Commission (SEC) has filed amendments to the proposed rule changes for multiple Bitcoin exchange-traded funds that are seeking approval. The amendments affect nine Bitcoin ETFs from GraniteShares, Direxion and ProShares by extending the deadline on comments.

If any parties are interested in filing statements that either support or oppose the rule changes, they must submit their statements by October 26.

So far, each of the previous proposed rule changes for the nine Bitcoin ETFs has been rejected by the SEC. These rejections are not final. In light of the fierce debate surrounding the proposed Bitcoin ETFs, and the need for scrutiny, regulators are allowing for further review, and they’re allotting more time for advocates and critics alike to present their arguments.

Comments can be submitted online or via email to [email protected].

If sending comments via snail mail, print in triplicate and mail to:

SecretarySecurities and Exchange Commission100 F Street, NE, Washington, DC 20549-1090

The SEC will post all comments online.

In September, the SEC asked for more input from the public in the run-up to a decision on the VanEck Bitcoin ETF proposal, specifically asking for views on Bitcoin’s susceptibility to market manipulation. The SEC ultimately delayed its decision, marking the second time that regulators decided to take more time to make a final decision on VanEck.

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