Some CRYPKYP functionalities are depricated as of October 2022 and will no longer be populated until further development and future version.
Although all here is visible and interactable you can not Contribute to those articles.
Try looking at other information on the Platform and Contributing there!
Have a great day,
CRYPKYP Team
The U.S. SEC extends its deadline for deciding on VanEck's proposed BTC ETF, prolonging the wait for the first Bitcoin spot exchange-traded fund.
The newest application for a Bitcoin (BTC) spot exchange-traded fund (ETF) by international investing giant VanEck has been postponed by the Securities and Exchange Commission (SEC) of the United States.
The company has been attempting to obtain approval for what will be the first BTC ETF in America; its initial application was submitted to the SEC in 2017 but was ultimately turned down.
The SEC rejected VanEck’s second application in November 2021, citing that the company had not complied with the requirements to safeguard investors and prevent fraudulent and manipulative activities and practices.
VanEck persisted and submitted a third BTC ETF offering application to the SEC in June 2022, outlining several reasons the SEC ought to reevaluate its earlier rulings.
VanEck’s main defense was that Canadian exchange-traded instruments like BTC spot exposed American investors to Bitcoin. In February 2021, Canada, America’s northern neighbor, became one of the first nations in the world to authorize a spot Bitcoin ETF.
The SEC’s deadline for approving the most recent file was slated to expire on August 27, which forced the agency to delay deciding on the case by nearly two months.
After calling for public engagement in July 2022, the SEC has until October 11 to make a decision and reported that it had not received any comments on the proposed rule change:
To give itself enough time to think about the proposed rule change and the concerns highlighted by it, “The Commission thinks that it is appropriate to allocate a longer timeframe within which to take action on the proposed rule change.”
In the battle for a position in America since 2017, there has been debate about a Bitcoin ETF, which would effectively let institutional investors purchase shares that reflect Bitcoin and be held by VanEck. This provides investors access to Bitcoin without requiring them to store and own it personally. On the Cboe BZX Exchange, VanEck aims to list its BTC ETF product.
