The Securities and Exchange Commission () has again delayed its decision on index fund provider Bitwise Asset Management’s () exchange traded fund (). The development was revealed in a filing by the on May 14.
In the recent filing, the revealed that it has delayed its decision on whether to approve or disapprove Bitwise’s , and also requested for a public comment from interested parties. The Commission thus asks interested persons to “provide written submissions of their views, data, and arguments with respect to the issues identified above, as well as any other concerns they may have with the proposal.”
Bitwise initially for an in February under the condition that the would reach a decision in 45 days. The firm’s proposed reportedly differs from other previously proposed ETFs in that it draws prices from a variety of exchanges, with the aim of better representing the market.
In its original filing, Bitwise specifically that its would require “regulated third-party custodians to hold its physical .”
“Having a regulated bank or trust company hold physical assets of a fund has been the standard under U.S. fund for the last 80 years, and we believe that is now possible with ,” it says.
Тhe had first its decision on the Bitwise application in March. Following the decision, the was obligated to come to a decision on whether to approve the rule change by May 16, 2019.
Per today’s filing, the public comment period will last three weeks after the most recent amendments to the Bitwise application are published in the Federal Register, followed by two weeks for responses.
In December of last year, commissioner Hester Peirce, dubbed “Crypto Mom” by the community for her dissent with the ’s decision to reject a proposed by Cameron and Tyler Winklevoss, that a or is “definitely possible,” but it could be years away.
Published at Wed, 15 May 2019 03:07:20 +0000
