Bitcoin traders and investors have been eagerly awaiting the U.S. Securities and Exchange Commission (SEC) decision on the VanEck SolidX bitcoin exchange-traded fund (ETF) proposal—but they will have to go on waiting, with the SEC again kicking the can down the road. The SEC, which has previously rejected bitcoin ETF proposals due to fears of market manipulation, liquidity, and financial crime, has delayed two bitcoin ETF proposals so far this year. The VanEck SolidX bitcoin ETF was first filed last year with the Cboe BZX exchange but had to be pulled in January due to the U.S. government shutdown, with the companies then re-filing the proposal. Bitwise Asset Management has also filed its own ETF proposal with NYSE Arca, which the SEC delayed its decision on earlier this month. Bitcoin exploded into the public consciousness in 2017, with the bitcoin price rising from under $1,000 to almost $20,000 in under 12 months.

Source: Forbes May 21, 2019 06:46 UTC