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SEC Delays Spot Bitcoin ETF Offerings From WisdomTree and One River
The move continues a pattern by the U.S. securities regulator to deny or not take action on all spot bitcoin ETF applications.
The U.S. Securities and Exchange Commission (SEC) has delayed decisions on applications for spot bitcoin exchange-traded funds from WisdomTree Investments (WETF) and One River Asset Management, according to separate filings Monday.
- “The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and any comments received,” the SEC said in each of the filings.
- A decision on One River’s proposal has been postponed to April 3, and on WisdomTree’s to May 15. The SEC had previously denied WisdomTree’s application in December, but the fund manager had made changes and resubmitted.
- Up to now, the SEC has either outright denied or delayed decisions on all spot bitcoin ETFs. Prior to the SEC's announcements on Monday, its most recent actions were its rejections of applications from NYDIG and Global X last month.
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Michael Bellusci
Michael Bellusci is a former CoinDesk crypto reporter. Previously he covered stocks for Bloomberg. He has no significant crypto holdings.
