Many people had been waiting for approving Bitcoin ETF submitted by Cboe BZX Exchange for consideration by the SEC in June this year. It had been expected that the decision should be made in August.
Earlier we noted that the date of making the decision could be postponed according to the SEC’s rules. But that’s what happened on the 7th of August.
“…the Commission, pursuant to Section 19(b)(2) of the Act, designates September 30, 2018, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.”
Official source: SEC’s Release No. 34-83792.
What conclusions can be drawn? One of the most anticipated events for bitcoin this year will not take place within the next one and a half months. Therefore, in August and September, the crypto-currency market is likely to be in limbo.
Read our basic article to learn all you need to know about Bitcoin ETF and its potential influence on the cryptocurrency market.