SEC Keeps Pushing Back more Bitcoin ETF Proposals in the United States

WisdomTree is an American-based investment corporation that deals in exchange-traded products, ETF sponsorships, and asset management consultations. The WisdomTree Bitcoin Trust is an enviable holding of the flagship cryptocurrency that is not far behind names like Grayscale and Ark Investment in terms of mass and evaluation. On March 11, 2021, the WT BTC fund submitted a prospectus with SEC to introduce a new Bitcoin ETF or BTCW.

However, the regulatory commission called for a sabbatical from March 30th to July 14th. This period was meant to give time to SEC officials to do their due diligence on the matter of Bitcoin ETF applicants in general. The probability of the BTCW exchange-traded product can have a higher probability of getting approved due to the involvement of Cboe bZx. 

United States Equities Exchange Operator is in a face-off with SEC on the matter of BTC ETFs

Cboe is the largest equities market operator in the United States at present. Four of the largest and most influential equity markets, Bzx, Byx, EDGA, and EDGX exchanges, are operated under the supervision of Cboe. Operating since 1973, the Cboe has been supporting trade derivatives like stock contracts and single-stock call options.

After WisdomTree submitted the BTCW prospective to SEC, Cboe called for a rule change on March 26. It should be noted that thus far, not a single Bitcoin pegged ETF has been approved in the United States. In this regard, Canada has dominated the market that has managed to introduce three different Bitcoin ETFs with the help of the Toronto Exchange.

SEC still not Ruling in Favor of Bitcoin ETFs in the United States

SEC has been visibly indecisive on the matter of Bitcoin exchange-traded products thus far. It should be noted that some of the largest Bitcoin holdings and reserves are currently present in the United States. Noteworthy institutions like VanEck have also filed for a Bitcoin ETF approval since last month. 

On the matter of BTCW, SEC commented that it has only received four comments thus far. The traders who are interested in exploring crypto derivatives options have no choice but to seek their profits from the Toronto Exchange, where several BTC funds are thriving. SEC Chief Gary Gensler has recently said that the regulatory agency is preparing to introduce more crypto lawsuits in association with FINRA.

Leave a Reply

Your email address will not be published.

Related

Coins Capital Review, Coins-Capital.com – Is Coins Capital Scam Or Legitimate?

Coins Capital Trading Platform Rating 4.3 Summary Read our Coins Capital review at FStar Capital Forex and Cryptocurrency Trading blog, find the answer to your question “is Coins Capital scam or legit” and much more! https://coins-capital.com/ Coins Capital Review You have been thinking for a long time if trading is for you. You have finally […]

AI Center Indicts ChatGPT Developer of Trade Law Violations: Claims Bias & Deception

The organization alleges that the creator of ChatGPT has violated Section 5 of the Federal Trade Commission Act with the release of GPT-4. This section of the act prohibits any practices or acts considered deceptive or unfair and that affect commerce. CAIDP has complained to the US Federal Trade Commission, intending to prevent the distribution […]

Investors Excited As XRP Market Capitalization Hits $20 Billion

It’s been wide jubilation today after XRP investors heard the announcement that the market capitalization has surged to $20 billion. XRP: a cryptocurrency developed and managed by Ripple, a San Francisco, United States, distributed data company. It was gathered that the coin itself responded to this development through a climb in price – it was […]

GlobalTrades Review, GlobalTrades.io – Is Global Trades Scam or a Good Broker?

GlobalTrades Trading Platform Rating 4.6 Summary Read our Global Trades review at FStar Capital Forex and Cryptocurrency Trading blog, find the answer to your question “is globaltrades.io scam or legit” and much more! https://globaltrades.io/ GlobalTrades Review As people look at cryptocurrencies and their immense success, they are eager to start their own trading businesses. While […]

Belgium Regulator Sets To Impose New Crypto Ads Rules

The Belgium government has mandated that every firm offering crypto advertisements should register with it before launching any campaign. Henceforth, any crypto advertisement without the government’s backing would be treated as an offense with heavy consequences. According to the report, the Financial Services and Markets Authority (FSMA) of Belgium recently announced that every potential crypto […]