The US Securities and Exchange Commission has expanded its window to approve or deny requests for exchange-traded funds (ETFs) from asset managers WisdomTree and One River.

According to separate filings on Friday, the Securities and Exchange Commission (SEC) will delay the deadline to approve or reject a rule change that would allow the listing of WisdomTree Bitcoin Trust, One River Carbon Neutral Bitcoin Trust shares on the Cboe BZX exchange. and New York Stock Exchange Arca, respectively. The regulator said it would extend the decision-making window for the WisdomTrees Bitcoin investment instrument until May 15, and for One Rivers until June 2.

The implementation of WisdomTree’s Spot BTC ETF comes after the SEC rejected a similar offer from an asset manager in December 2021 after several delays. At the time, the regulator said that BZX did not provide enough data to conclude that the cryptocurrency market is resistant to manipulation or allay concerns about potential sources of fraud and manipulation. WisdomTree applied to list another BTC ETF in February 2022.

In turn, the BTC One River investment vehicle will move closer to its 2022 deadline after the company filed for a list of proposed rule changes on NYSE Arca on Oct. 5. The committee was expected to make a decision or expand the window for coding evaluation. ETF by April 3, but decided to delay the deadline by another 60 days, to June 2, 2022. The SEC has the option to extend the processing window or open the application for public comment up to 240 days before a final decision is made. .

“The Committee deems it appropriate to set a longer time frame for approving or rejecting a proposed rule change so that it has sufficient time to evaluate the proposed rule change and the issues raised in comments relating to this matter,” the SEC said in a statement regarding OneRiver. inquiry.

RELATED: Bitcoin ETF Decision Postponed, SEC Commissioner Asks Why

U.S. regulators continued to reject listing applications for bitcoin ETFs and also gave the green light to investment vehicles linked to bitcoin derivatives for the first time in October 2021. On March 11, the Securities and Exchange Commission rejected applications for crypto-ETFs from New York Digital Investment Group and Global X However, some “strategic” implementations of BTC in ETFs turned out to be more successful: in 2021, the regulator agreed to include shares in Valkyrie, ProShares and VanEck funds .

Source: CoinTelegraph

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