On May 14, local time, the U.S. Securities and Exchange Commission (SEC)Decision on Approval of Bitwise Bitcoin ETF Proposal Delayed Again. The proposal, first proposed in January this year, was jointly filed by Bitwise and NYSE Arca.
Bitwise is an asset management company that proposes to createBitwise Bitcoin ETF Trust(Bitwise Bitcoin ETF Trust) will track the Bitwise Bitcoin Total Return Index to track bitcoin and "meaningful hard forks."
Its ETF application documents are exposed, the company said it differs from previous such applications because a regulated third-party custodian would store the bitcoins instead of the platform. The company will pull pricing data from a host of exchanges, including spot and physically-settled futures markets, to calculate an index of asset value. According to Bitwise, this practice is to prevent fraud and price manipulation, protect investors and the public interest.
previously reportedpreviously reported, The SEC had postponed a decision on Bitwise and VanEck/SolidX's Bitcoin ETF proposals at the end of March, delaying the decision date of these two proposals to May.
The SEC's stance on bitcoin ETF applications has been elusive. On the one hand, the application decision has been delayed many times, and on the other hand, it is trying to pass the hiring"Cryptocurrency Financial Analyst"(Financial Analyst Cryptocurrencies), "Encryption Lawyer Consultant" (Attorney Adviser) to enhance professional capabilities in this field.
The SEC commissioner has repeatedly expressed dissatisfaction with the SEC's slowness in regulating the encryption industry and worries that it may inhibit the development of the cryptocurrency industry.
At the recent New York Consensus Conference,SEC Commissioner Hester Peirce said, she is not satisfied with the current situation. So far, the only statement from the SEC has been a rejection of ETFs, but the SEC is slowly moving forward.
One thing players in the crypto industry can do, Peirce said, is to show off their technology to the SEC, to talk to the SEC. They have to be able to respond quickly enough to convince the SEC that they've really dealt with the issues. Peirce said she is frustrated that the U.S. has always been a place where innovation can flourish, but now a lot of the activity is happening overseas. She hopes that the United States will be more open to innovation so as not to miss the wave of blockchain technology.
I am Odaily reporter Wu Suixin (WeChat ID wsuixin12), please note your name, unit, title and reason when adding friends.
I am Odaily reporter Wu Suixin (WeChat ID wsuixin12), please note your name, unit, title and reason when adding friends.
