SEC Postpones Decision on First Bitcoin ETF Approval

The Securities and Exchange Commission (SEC) has pushed back the date to approve the Winklevoss twins’ request to list a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term ETF on the BATS exchange under the ticker COIN, according to a document published yesterday on the U.S. Federal Register website.

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The Winklevoss Bitcoin Trust, owned by brothers Cameron and Tyler Winklevoss, filed the first bitcoin ETF application with the U.S. regulator three years ago. The twin brothers have been among the most public advocates for a bitcoin ETF and they also run currently both WinkDex, a bitcoin price index, and Gemini, a bitcoin custodian and exchange.

The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the exchange-traded product.

Section 19(b)(2) of the Securities Exchange Act of 1934 provides that the commission should approve or disapprove the proposed rule change within 45 days. However, the SEC can extend the period another 45 days, and after that another 90 days if it finds a longer period to be appropriate, in which case it should publish its reasons for doing so.

SEC’s decision closely mirrors what happened in September when it made a similar decision regarding the application submitted by SolidX Partners, Inc., to launch an ETF that tracks the price of Bitcoin. The proposed exchange-traded product, which could be the first bitcoin ETF on a major Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term, will be called 'SolidX Bitcoin Trust' and will list on the New York Stock Exchange under the ticker symbol XBTC, subject to regulatory approval.