The Securities and Exchange Commission extended the public comment period on the bitcoin (BTC) exchange-traded fund proposed by money manager VanEck, blockchain company SolidX and the Cboe exchange, effectively delaying any decision on approving the product once again.
In a notice posted online, the securities regulator said it was extending the review period for the ETF to Feb. 27, 2019. The ETF proposal was submitted earlier this year.
This extended delay continues months of uncertainty after the SEC rejected a number of ETF proposals submitted by ProShares, GraniteShares and Direxion. The VanEck/SolidX proposal is different because the ETF’s value is dependent on bitcoin rather than futures markets.
The newest extension comes several days after a number of bitcoin ETF proponents met with SEC staff to make their case and about a week after SEC chief Jay Clayton commented on his concerns about a crypto ETF at the Consensus: Invest meeting in New York.