THELOGICALINDIAN - One day afterwards the US Securities and Exchange Commission SEC alone proposed aphorism changes for nine bitcoin ETFs the Commission accomplished a analysis of all accompanying decisions Three bounce orders fabricated on August 22 are now backward awaiting the analysis by the SEC Chairman and the Commissioners
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SEC Initiates Review of Nine Bitcoin ETFs
After abnegation the proposed aphorism changes for nine bitcoin ETFs, the SEC beatific out notices advertence that it will analysis the delegated accomplishments on all of them. All August 22 bounce orders are now stayed.
This is the aboriginal time the SEC accomplished a analysis of its agents decisions on bitcoin ETFs. In contrast, back the proposed aphorism change for the Winklevoss bitcoin ETF was alone in March, it took Bats BZX barter to book a address for the Commission to analysis the decision.
News.Bitcoin.com accomplished out to the SEC for comments. According to Rule 431(c) of the SEC’s Rules of Practice:
Commissioner Peirce’s Comments
While the Commission did not affirm which Commissioner(s) alleged for the review, Commissioner Hester Peirce has been articulate on amusing media about the analysis demography place.
She has back tweeted, “Yesterday’s agents orders accusatory SRO rules accompanying to a cardinal of bitcoin ETFs are backward awaiting Commission review,” elaborating:
In March aftermost year, back the SEC alone the proposed aphorism change by Bats BZX exchange, Peirce was not yet at the Commission. In a contempo account with CNBC, she said that she had been at the Commission for alone six months and was not allotment of the aboriginal accommodation fabricated on said bitcoin ETF.
Following the March rejection, Bats BZX barter filed a address for a analysis with the SEC; the final accommodation was fabricated over a year later. Peirce was allotment of the final analysis and she voted for the approval of the bitcoin ETF while three of her colleagues voted against.
Furthermore, she said during the account that the Commission overstepped its bounds by abnegation bitcoin ETFs based on the basal market.
Three Review Orders
On August 23, the SEC beatific out three letters. One was beatific to Cboe Global Markets apropos two Graniteshares bitcoin ETFs. Two were beatific to NYSE Group apropos bristles Direxion bitcoin ETFs and two Proshares bitcoin ETFs. All nine were rejected on August 22, as news.Bitcoin.com reported.
The three belletrist analogously read:
What do you anticipate of the SEC’s action? Do you anticipate the SEC will accept any of the nine bitcoin ETFs afterwards the review? Let us apperceive in the comments area below.
Images via Shutterstock and Hester Peirce.
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