{"id":34454,"date":"2022-08-26T10:14:23","date_gmt":"2022-08-26T14:14:23","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=34454"},"modified":"2022-08-26T10:14:26","modified_gmt":"2022-08-26T14:14:26","slug":"us-sec-postpones-vanecks-application-for-bitcoin-spot-etf","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/us-sec-postpones-vanecks-application-for-bitcoin-spot-etf\/","title":{"rendered":"US SEC postpones VanEck’s application for Bitcoin spot ETF"},"content":{"rendered":"\n
The Securities and Exchange Commission (SEC) of the United States has once again postponed VanEck's third application for a Bitcoin (BTC) spot exchange-traded fund <\/a>(ETF).<\/h5>\n\n\n\n
\"US
US SEC postpones VanEck's application for Bitcoin spot ETF <\/figcaption><\/figure>\n\n\n\n

The company has been attempting for a while to obtain approval for what will be the first BTC ETF<\/a> in America, and its initial application to the SEC in 2017 was ultimately rejected.<\/p>\n\n\n\n

The SEC rejected VanEck's second application in November 2021, citing that the company had not complied with requirements to safeguard investors and prevent fraudulent and manipulative activities and practices.<\/p>\n\n\n\n

VanEck persisted and submitted a third BTC ETF offering application to the SEC in June 2022, outlining several reasons why the SEC ought to reevaluate its earlier rulings.<\/p>\n\n\n\n

VanEck's main defense was that Canadian exchange-traded instruments like BTC spot were exposing American investors to Bitcoin. In February 2021, Canada<\/a>, America's northern neighbor, became one of the first nations in the world to authorize a spot Bitcoin ETF.<\/p>\n\n\n\n

The SEC's deadline for approving the most recent file was slated to expire on August 27, which forced the agency to delay making a decision on the case by nearly two months.<\/p>\n\n\n\n

After calling for public engagement in July 2022, the SEC has until October 11 to make a decision and reported that it has not received any comments on the proposed rule\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> change:<\/p>\n\n\n\n

\u201cThe Commission finds that it is appropriate to designate a longer period within which to\u00a0take action on the proposed rule change so that it has sufficient time to consider the proposed\u00a0rule change and the issues raised therein.\u201d<\/p><\/blockquote>\n\n\n\n

The battle for a position in America Since 2017, there has been debate about a Bitcoin ETF, which would effectively let institutional investors purchase shares that would reflect Bitcoin <\/a>and be held by VanEck.<\/p>\n\n\n\n

This provides investors access to Bitcoin without requiring them to store and own it personally. On the Cboe BZX Exchange, VanEck aims to list its BTC ETF product.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission (SEC) of the United States has once again postponed VanEck’s third application for a Bitcoin (BTC) spot exchange-traded fund (ETF). The company has been attempting for a while to obtain approval for what will be the first BTC ETF in America, and its initial application to the SEC in 2017 […]<\/p>\n","protected":false},"author":12,"featured_media":7634,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[143,8615,668],"class_list":["post-34454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-sec","tag-spot-bitcoin-etf-2","tag-vaneck"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/VanEck-files-for-Bitcoin-Strategy-ETF-with-the-SEC.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/34454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=34454"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/34454\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/7634"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=34454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=34454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=34454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}