SEC delays decision on WisdomTree's proposed bitcoin ETF

The Securities and Exchange Commission last week delayed its decision on whether Cboe bZx will be able to list WisdomTree's proposed bitcoin ETF. 

On May 26, the SEC announced that it would be pushing back its decision on the listing from May 30 to July 14 "so that it has sufficient time to consider the proposed rule change and the comments received."

The rule change itself is simply to allow listing of WisdomTree Bitcoin Trust or BTCW. WisdomTree filed a prospectus with the SEC on March 11, while the Cboe proposed the rule change on March 26. 

Since that time, the SEC has received only four comments. However, the commission has a history of stalling or rejecting applications for Bitcoin ETFs.

At the end of April, Cboe's proposal to list VanEck's ETF received a similar delay. To date, none has launched in the U.S., though some see the emergence of several Bitcoin ETFs on the Toronto Stock Exchange as a good omen. 

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Kollen Post is a senior reporter at The Block, covering all things policy and geopolitics from Washington, DC. That includes legislation and regulation, securities law and money laundering, cyber warfare, corruption, CBDCs, and blockchain’s role in the developing world. He speaks Russian and Arabic. You can send him leads at [email protected]