The Securities and Exchange Commission pushed back its decision on VanEck Associates Corp.’s planned Bitcoin exchange-traded fund for the second time, Markets Insider reported.
The corporate regulator said more time is needed to consult with the public on the ETF, citing concerns on the possible market manipulation of Bitcoin and the ETF. The commission in April pushed back its ruling to June.
The SEC has appealed for the public to comment their views, generally on the liquidity and transparency of Bitcoin. Comments are also being solicited on the regulatory and financial landscapes relating to Bitcoin.
The SEC is also asking for public views on regulation of Bitcoin and changes in the last five years, and on the size of the CME Bitcoin futures market.
The public was given 21 days to submit comments, and 35 days for rebuttals. The review period can be extended up to 240 days. BTC/USD is down 1.20%.