The SEC Extends VanEck Bitcoin ETF Decision Until November

The SEC has been making headlines lately a lot, and now the organization is under the spotlight again.

It’s been just revealed that the SEC has extended its consideration of VanEck’s Bitcoin exchange-traded fund application a final time.

The Block Crypto online publication notes that the SEC posted an extension notice on Wednesday, in which the regulator noted that it intends to take an additional 60 days to review the proposed rule change.

The same online publication mentioned above noted that interested parties can expect an answer on November 14, 2021, as the notice names that day “as the date by which the Commission shall either approve or disapprove the proposed rule change.”

Cboe BZX Exchange first filed a 19b-4 to list VanEck’s Bitcoin Trust on March 1, 2021, starting the clock on an SEC decision.

Accord9iing to the same notes, the Commission can take up to 180 days from the publication date of the filing to decide.

This whole thing would put decision day at September 15. However, regulators are permitted to take an additional 60 days if it’s deemed “appropriate” and publish their reasoning.

“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised in the comment letters that have been submitted in connection therewith,” according to the notice.

A couple of days ago, we were revealing that, as you probably know by now, the crypto market was suddenly crashed the other day, just following the news that El Salvador made Bitcoin a legal tender.

It’s also been revealed that after El Salvador, more juicy news comes, and this time from Ukraine.

BREAKING: Ukraine has legalized Bitcoin and crypto.

You can now buy, sell and hold #Bitcoin and crypto.

Source: @cz_binance pic.twitter.com/KxRIEAXHS2

— Blockworks (@Blockworks_) September 8, 2021

Stay tuned for more news.