The regulator has extended the review period of the VanEck’s bitcoin bid by 45 days for a second time
The United States Securities and Exchange Commission (SEC) keeps kicking the bitcoin exchange-traded fund (ETF) down the drain.
In a filing on Wednesday, the regulator once more delayed passing judgement on the VanEck Bitcoin Trust.
The SEC provides a decision on prospective applications within a 45-day window period and can also take up to 240 days before making a decision. The VanEck bid review period has been extended two times in a row by the SEC
The public was also given a chance at public comment on the VanEck’bitcoin trust application during same filing. The regulator asked interested people to answer questions and give opinions about how susceptible the ETF would be to market manipulation and whether or not the regulatory landscape has changed significantly since the bitcoin ETF applications inception in 2016.
Fraud and manipulation remain the main point of focus in the underlying bitcoin spot market and also a reason for rejecting numerous bitcoin ETF applications, as stated by the SEC. the president of the ETF store Nathan Geraci, made this known during a recent interview with CoinDesk.
“The commission is also concerned they don’t have proper surveillance over cryptocurrency exchanges and, therefore, can’t ensure adequate investor protections are in place.”
The request for a comment from VanEck was not immediately returned.