The U.S. Securities and Trade Fee (SEC) is reviewing its order issued final week pertaining to a rejected proposal for a bitcoin exchange-traded fund (ETF). The proposal was filed by NYSE Arca for the Bitwise Bitcoin ETF Belief. In the meantime, the SEC can be evaluating a proposed rule change for a distinct sort of bitcoin ETF.
Additionally learn: SEC Rejects One other Excessive-Profile Bitcoin ETF Proposal
ETF Order Stayed
The SEC has despatched a letter dated Oct. 15 to Intercontinental Trade (ICE), the dad or mum firm of the NYSE, regarding its current order disapproving NYSE Arca’s proposal to checklist and commerce shares of the Bitwise Bitcoin ETF Belief. This proposal was rejected on Oct. 9. “This letter is to inform you that, pursuant to Rule 431 of the Fee’s Guidelines of Observe, 17 CFR 201.431, the Fee will evaluate the delegated motion,” the letter explains, including:
In accordance with Rule 431(e), the October 9, 2019 order is stayed till the Fee orders in any…