Once again, the U.S. Securities and Exchange Commission (SEC) has postponed its final decision on VanEck/SolidX bitcoin ETF proposal. The final resolution on the matter will be made on February 27, 2019.
On December 6, the SEC has again delayed its decision on bitcoin exchange traded fund (ETF) proposal submitted in June by VanEck/Solid X company. However, this was lawfully their last chance to do so, and as it’s outlined in the order itself, the SEC must approve or disapprove the proposed rule change on February 27, 2019.
“…the Commission, pursuant to Section 19(b)(2) of the Act, designated February 27, 2019, as the date by which the Commission shall either approve or disapprove the proposed rule change,” – the official document reads.
Late in October, VanEck and SolidX representatives held a meeting with the SEC officials in order to overcome the rigidities encountered in their attempts of launching the new financial instrument. As they claimed in VanEck following the meeting, all the complications related to the issue had been finally “resolved”.