US regulators have decided to postpone their decision regarding the approval of a Bitcoin ETF.
The US SEC declared yesterday that it wants to look for more public comment on a proposal to list a product on CBOE Global Market Inc. As you can imagine, this is far from being the first time that the SEC has decided to delay its decision-making when it comes to crypto-related issues.
Crypto supporters are really tired and frustrated by the waiting, as they hope the SEC will approve a Bitcoin ETF, a product that would probably push Bitcoin completely into the mainstream for institutional investors.
Earlier this year, everybody made predictions that the regulator would become more open-minded as Gary Gensler became the SEC Chair since he used to teach classes on digital assets at the Massachusetts Institute of Technology. But Gensler took the position in April, and nothing has really changed. In fact, the SEC issued new warnings regarding investing in Bitcoin futures.
As part of the announcement, the SEC asks the US citizens to offer their opinion on this. The new deadline would stretch to late July/early August.
Some of the questions asked are:
- Whether the trust and shares associated with the ETF would be susceptible to manipulation?
- How transparent is Bitcoin?
- Has regulation of the Bitcoin market changed substantially in the past five years?