US SEC delays vaneck ETF decision again
US SEC delays vaneck ETF decision again
The United States Securities and Exchange Commission (SEC) has postponed her decision on the Vaneck Bitcoin ETF proposal. The commission obtains statements about possible market manipulation before a decision.
The US Sec announced yesterday that she postponed her decision about the Vaneck Bitcoin Exchange Traded Fund (ETF). This happened after the regulatory authority postponed the decision on the same Bitcoin ETF proposal in April.
The SEC asked for public opinion on the susceptibility to manipulation of the proposed ETF and its authority to prevent fraudulent activities. The regulatory authority also asks for public statements about the liquidity and transparency of the BTC markets.
The desire to know about the suitability of Bitcoin as the underlying for an ETF implies that the supervisory authority is still unsure whether Bitcoin is considered a asset class. The market capitalization of the leading cryptocurrency grew over the $ 1 billion mark at the beginning of the year.
With the increasing market capitalization and acceptance, several supervisory authorities in other parts of the world take active steps to regulate the emerging countries. However, the US regulatory authorities may still not be sure whether Bitcoin is positioned as an asset class.
Several analysts and market experts believe that the approval of a Bitcoin ETF by the United States would be the key to the general introduction of cryptocurrencies. Crypto-focused ETFs are already available in some countries, including Canada and Brazil.
The Vaneck Bitcoin ETF proposal was submitted towards the end of 2020, and the SEC has now postponed its decision twice.
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Source: Coinlist.me
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