US SEC Asks for Further Comment Regarding VanEck Bitcoin ETF

[CebuBitcoin]

The U.S. Securities and Exchange Commission (SEC) has requested further comments regarding its decision on the listing and trading of a Bitcoin (BTC) exchange-traded fund (ETF), according to an official notice released September 20.

The ETF under consideration is backed by investment firm VanEck and financial services company SolidX. Initially filed on June 6, the fund is claimed to be physically-backed, which means it will hold actual Bitcoins, and is expected to list on the Chicago Board of Exchange (CBOE) BZX Equities Exchange (BZX).

In the notice, the SEC notes that it has not “reached any conclusions with respect to any of the issues involved,” and is asking for additional comments from interested parties addressing the sufficiency of the BZX’s statement in support of the proposal.

In particular, the SEC is seeking comments on eighteen key issues, among which are commenters’ views on BZX’s assertions that BTC “is arguably less susceptible to manipulation than other commodities that underlie exchange-traded products (ETPs).” The note further reads:

Readmore: https://cointelegraph.com/news/us-sec-asks-for-further-comment-regarding-vaneck-bitcoin-etf