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Today the Securities and Exchange Comission (SEC) announced that they are extending the deadline to make a decision on the proposed rule change that would allow for the VanEck SolidX Bitcoin ETF to become a reality. The deadline has now been extended as far as it can and the final decision must be made by February 27th, 2019.
The original proposal was submitted on July 2, 2018 and the SEC was permitted 180 days to receive comments and deliberate, putting the decision no later than December 29th. However there is a provision that allows for an additional 60 days to be added if the SEC feels it necessary, which apparently it does, making the new final date February 27th.
From the announcement:
"The Commission finds it 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 this proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, 10 designates February 27, 2019, as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR-CboeBZX-2018-040)."
This is the final time this ETF decision can be delayed, so come February 27th you can bet people will be getting antsy. Of course, stay right here with Chepicap for all the latest SEC BTC ETF news!
Read more: SEC's Crypto Mom on Bitcoin ETF approval: "Don't hold your breath"