Understanding the Bitcoin ETF Extensions and Deadlines

TIP: This informative article was written in July, nevertheless ETFs becoming postponed is really a normal news item. I’ve upgraded the page to provide you a deadline.

The CBOE market has filed more than 1 proposition into the SEC to possess Bitcoin ETFs recorded. The SolidX stocks ETF is on the right track because of the August approval deadline. TheDirexion ETFs filed in January got a deadline extension before September. Simply speaking, among both deadlines has been postponed, however usually the one who has been postponed isn’t the one everyone is excited about. [1][2]

With that said, it is possible and perhaps even likely that the SolidX ETF will also be postponed, because an ETF is a big step and it is logical the SEC will want to take the maximum amount of time allowed to make their decision. To obtain that amount of time, they will have to postpone their approval.

UPDATE SEPT 20th: The Van Eck SolidX ETF was postponed again for comments. A decision would be expected before the end of the year.

UPDATE AUG 23rd: After a string of rejections from Winklevoss toProShares, Direxion and GraniteShare by the SEC, it seems pretty clear that no ETF is happening any time soon. You can read more about that here.

UPDATE AUG 7th: The SolidX ETF decision was postponed. You can read about that here.

UDPATE JULY 26: TheWinklevoss twins updated proposal was rejected on July 26, 2018. They had already had the original version of that rejected in January. While this doesn’t bode well for its CBOE ETFs on certain degrees, in addition, it doesn’t have any direct effect on the SEC’s decision on any other ETFs.

The Details

Some reporting, that phrased this as CBOE Bitcoin ETF postponed (or some variation of that), was confusing people. This confusion led to posts across social media that, intentionally or not, acted as FUD by informing people that the Bitcoin ETF was postponed.

This matters because the potential of the SolidX stocks ETF getting listed on the CBOE is one of the factors in the recent Bitcoin run (and thus any sort of negative response or positive response from the SEC would be likely to affect Bitcoin costs ).

The approval deadlines are:

  • SolidX Shares August 16th; but may be postponed.
  • Direxion Long and Short (and others) September 15th after being postponed.

Approval, denial, or an extension must happen by the deadline (meaning we may obtain word on both of these early).

NOTE: To add some confusion, these aren’t the sole ETFs being filed. Additionally, the SEC has rejected lots of ETFs. For additional information visit our site on Everything You Need to Know About the Bitcoin ETF.

TIP: Having 2 ETF blessings coming around two weeks ensures each can have distinct consequences. The before all else might be approved and also the moment refused, or viceversa, as an example. Two blessings at arow will likely have a beneficial impacts on Bitcoin costs, just one of those 2 might have its very own interesting effect, and a refusal of this before all else one but doubt over the moment might have a exceptional effect also.

Did the Bitcoin ETF Get Postponed?