Van Eck SolidX ETF Postponed

The SEC’s decision on the Bitcoin ETF from Van Eck Securities Corp. and SolidX Management is postponed while the SEC requests another round of comments from the public. The exact decision date isn’t clear, but essentially it is 21 days for comments from Sept 20th (when the order was published in the Federal Register), 35 days for rebuttals from that date, and then with that information another decision has to be made.^[1][2]

This is what we call in the business “kicking the can down the road.” From a glass half full perspective, the glass is half full with “well, that isn’t a no.”

1. Bitcoin ETFs Delayed Again as SEC Seeks Comment on Fund Plan. Bloomberg.com
2. SECURITIES AND EXCHANGE COMMISSION (Release No. 34-84231; File No. SR-CboeBZX-2018-040). SEC.Gov. [Official Document; a PDF]