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US Securities and Exchange Commission (SEC) Begins Initial Steps on Bitcoin Traded Funds (ETF)

US Securities and Exchange Commission (SEC) Begins Initial Steps on Bitcoin Traded Funds (ETF)

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Answer US Securities and Exchange Commission (SEC) Begins Initial Steps on Bitcoin Traded Funds (ETF)

The U.S. Securities and Exchange Commission (SEC) announced Thursday that it has begun the initial steps of deciding whether to approve the proposed Bitcoin trading fund (ETF) proposal.

And the US Securities and Exchange Commission (SEC) published in a statement, “The decision-making process has been launched whether to approve or reject the submitted proposal.” which was introduced by Cboe BZX Exchange, Inc.

If an ETF is approved, the CBOE will have the option to list its Bitcoin ETF, which will be managed by VanEck and SolidX.

It stated in the statement that it is possible to postpone the decision-making for a period of 180 days from the submission of the proposal, with an additional option for another extension for 60 days if necessary.

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As part of the mission, the US Securities and Exchange Commission (SEC) has requested public and private input and input, and reports that more than 1,400 comments have been submitted so far.

SEC Secretary Brent Fields said: “Establishing such requirements is an appropriate measure at this particular time given the legal and policy issues associated with the decision. This means that we have not reached any conclusion regarding any of the issues involved. The committee seeks to encourage people interested in the case to provide their comments on the proposal.”

Under the terms of the proposal, VanEck and SolidX are working to create a Bitcoin Trading Fund (ETF). The US Securities Commission has already postponed making a decision in advance, and it may postpone making its final decision until next February.

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It is worth noting that the US Securities and Exchange Commission (SEC) rejected nine proposals for bitcoin trading funds (ETFs) last month.


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