SEC’s rule change of timeline for BTC ETF approvals

The US Securities and Exchange Commission (SEC) announces the commencement of the deadline for either approval or disapproval of Bitcoin exchange-traded fund (ETF) application by the VanEck/SolidX.

The SEC’s standpoint on Bitcoin ETF’s seems to constructive for crypto-aspirants, as the SEC Commissioner Hester Peirce, who is also known as ‘Crypto Mom’, revealed that it is unlikely to rule out a bitcoin ETF approval.

On the back of this, For the first time since August, there is now multiple bitcoin exchange-traded fund (ETF) proposals sitting before the U.S. Securities and Exchange Commission (SEC).

The latest news was announced in a federal register that was filed on Feb. 19. Previously, VanEck/SolidX proposal with CBOE BZX had the 45-day deadline to an initial response. The US SEC is now reviewing to make a decision about whether to allow the ETF to launch within 90 days from the date the notice is published.

The Chicago Board Options Exchange (CBOE) the exchange applying with the SEC to list the Bitcoin ETF, had withdrawn its application for a rule change on the ETF in January, due to the U.S. government shutdown. The resubmission of the application by CBOE  took place later on.

Currency Strength Index: FxWirePro's hourly BTC is at 170 (bullish), hourly USD spot index is inching towards -117 levels (which is bearish) while articulating (at 13:07 GMT).

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