In a blow to crypto traders, the SEC delays a ruling on a Bitcoin ETF.

U.S. regulators have once again deferred their judgement on whether or not to authorise a Bitcoin ETF.

In a regulatory filing on Wednesday, the Securities and Exchange Commission stated that it will seek more public comment on a proposal to list a product on Cboe Global Markets Inc. The SEC has delayed responding to the legions of crypto enthusiasts seeking for a means to trade the largest cryptocurrency in an exchange-traded fund structure for the second time this year.

The agency's refusal to sign off on a Bitcoin ETF, a product that may rocket the world's most valuable digital asset into the mainstream among institutional investors, has long irritated crypto aficionados.

Earlier this year, it was predicted that SEC Chair Gary Gensler, who had taught lectures on digital assets at the Massachusetts Institute of Technology, would be more sympathetic. However, after taking over in April, the agency has continued to express worries about the lack of oversight of cryptocurrency exchanges. It has also issued new cautionary statements regarding the dangers of mutual funds trading in Bitcoin futures.

The SEC urged the public to comment on portions of the Cboe proposal, which seeks approval of a VanEck Associates Corp. ETF, as part of its statement on Wednesday. People have until July and possibly August to respond, according to the SEC. Here are a few of the agency's main concerns:

Is it possible that the trust and shares associated with the ETF could be manipulated? Is Cboe's strategy designed to prevent fraud and manipulation? Is Bitcoin completely transparent? Has the Bitcoin market's regulation altered significantly in the last five years? What are the opinions of experts on the magnitude and regulation of CME's Bitcoin futures contracts?

Leave a Comment :


We will provide you latest market updates and analysis, for that you can JOIN OUR TELEGRAM CHANNEL and get daily profit and more facilities. If you want to JOIN TELEGRAM CHANNEL, click here to join.