An epopea, in which the Commission plays a leading role, continues. Submitted applications for Bitcoin-ETF launch by VanEck and SolidX will be reviewed at least until February 2019. The relevant statement was published on the SEC page.
In accordance with law regulations, the Commission cannot extend the review duration of the above-mentioned applications, that is why February 2019 is a deadline for the Commission members. Eduardo Aleman pointed out in the release:
“The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change”.
Currently, the SEC is reviewing more than 1600 comments regarding the applications.
The uncertainty by SEC in this matter indirectly impacts the current condition of the crypto market, in its turn, Bitcoin continues the drop to its historical low.