The U.S. Securities and Exchange Commission (SEC) extended a rule change proposal allowing the nation's first bitcoin exchange-traded fund (ETF), pushing the decision deadline to next year.
In a notice posted online, the securities regulator said it was extending the review period for the ETF to Feb. 27, 2019. The proposal was first submitted by money manager VanEck and blockchain startup SolidX, who partnered with the Cboe exchange earlier this year.
The decision comes after months of uncertainty as a number of previous ETF proposals were rejected by the SEC, most notably in August when the regulator simultaneously rejected nine proposals submitted by ProShares, GraniteShares and Direxion. The rejections were suspended the next day when the SEC announced it would review all of the proposals.
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