On July 13, the US Securities and Exchange Commission (SEC) postponed its decision on Wisdom Tree’s Bitcoin ETF and asked the public to provide feedback.This request will allow members of the public to express their position on whether a trust should be established Officially recognized Or deny. The U.S. Securities and Exchange Commission’s notice stated:
“The committee requires interested parties to submit written comments, data and arguments on the above issues and any other concerns they may have about the proposal.”
Public comments must be submitted to the Federal Register within 21 days and a rebuttal must be submitted within 35 days of publication.
The SEC is seeking comments on whether the public believes the proposed Bitcoin ETF is vulnerable to manipulation and whether the exchange’s proposal is designed to adequately prevent fraud and manipulation.
The US Securities and Exchange Commission stated in a press release:
“The exchange asserts that the manipulation issues previously clarified by the committee have been sufficiently alleviated to the extent that quantifiable investor protection issues have exceeded them.”
The application was originally filed with the SEC on March 26, 2021, and the committee first asked the public for comment in April. On May 26, the US Securities and Exchange Commission designated a longer period of time to approve or disapprove the proposed rule change. The US Securities and Exchange Commission is currently reviewing many similar applications, including another application for an ether ETF from Wisdom Tree. Unless it is delayed again, a decision on the Bitcoin ETF may be made later this year.