US SEC Delays Decision on Bitwise Spot Bitcoin ETF Listing | Tech News
(Reuters) – The U.S. Securities and Exchange Commission said on Tuesday it had not decided whether to allow a bitcoin cash exchange-traded fund to be listed by Bitwise Asset Management, and asked for comments. public comments on certain aspects of the fund’s application.
The regulator said it will initiate proceedings to decide whether to approve or reject Bitwise Bitcoin ETP Trust’s listing on Intercontinental Exchange Inc.’s NYSE Arca exchange.
The delay comes after the SEC rejected spot bitcoin ETFs from several issuers in recent months, including Fidelity, SkyBridge and Valkyrie, all of which sought to provide easy exposure to the digital currency.
The SEC in October approved two funds based on bitcoin futures, the ProShares Bitcoin Strategy ETF and the Valkyrie Bitcoin Strategy ETF, which debuted on Wall Street the same month.
In delaying the Bitwise ETF, the SEC asked all interested parties to send it comments on certain parts of the ETF application, including the ETF’s expected volume, as well as whether to it could become a predominant influence on bitcoin futures prices. CME Group Scholarship.
The price of bitcoin has lost nearly half of its value in recent months, after hitting a six-month low of $32,950 on Jan. 24 from a high of $69,000 hit in November. The world’s largest cryptocurrency was last trading at around $38,650.
(Reporting by Medha Singh and Kanika Sikka in Bengaluru and John McCrank in New York; Editing by Anil D’Silva and Aurora Ellis)
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