Wisdom Tree’s proposed Bitcoin ETF judgement has been postponed by the Securities and Exchange Commission and has also called on the public for its opinion regarding this.
The Securities and Exchange Commission, or SEC, postponed its judgment on Wisdom Tree’s Bitcoin ETF on July 13 and asked for public input.
Members of the public will be able to express their opinions on whether the trust should be allowed or denied through this request.
“The Commission requests that interested persons provide written submissions of their views, data and arguments with respect to the issues identified above, as well as any other concerns they may have with the proposal.”
According to the SEC’s notice:
Public comments must be submitted to the Federal Register within 21 days of publication, and rebuttals must be filed within 35 days.
The SEC is seeking public input on whether the proposed Bitcoin ETF is vulnerable to manipulation and whether the exchange’s proposal is structured to adequately prevent fraudulent and manipulative conduct and practices.
In a press statement, the SEC stated:
“The Exchange asserts that the manipulation concerns previously articulated by the Commission are sufficiently mitigated to the point that they are outweighed by quantifiable investor protection issues.”
The application was first filed with the SEC on March 26, 2021, and the agency requested public input in April. The Securities and Exchange Commission (SEC) set a new deadline of May 26 to adopt or disapprove the proposed rule change.
Many applications similar to this one are now being reviewed by the SEC, including one by Wisdom Tree for an Ether ETF. A decision on the Bitcoin ETF might be made later this year, assuming there isn’t another delay.