The regulator said it was instituting additional proceedings to determine whether the proposed ETFs should be approved or disapproved. It asked for input from commentators, who have 21 days to submit written data, views and arguments. There's another 35-day rebuttal period, which suggests the approval process will drag on for at least a few more months.
"Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved," it wrote in the WisdomTree filing.
Surveillance-sharing agreement with Coinbase
"Do commenters agree with the Exchange that the Chicago Mercantile Exchange, on which CME bitcoin futures trade, represents a regulated market of significant size related to spot bitcoin?" the SEC continued, adding that it wants fresh views about a proposed surveillance-sharing agreement with crypto exchange Coinbase.
The regulator earlier this week made similar filings for proposed funds from BlackRock, Invesco, Valkyrie and Bitwise. It's now delayed all pending applications for the spot bitcoin funds, placing them on similar timelines.
The SEC first delayed the wave of bitcoin ETF proposals last month.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.