SEC Extends WisdomTree and One River ETF Application Deadlines

Two companies that submitted an application to the regulator to create spot BTC-ETFs received an official response - a decision has not yet been made. Representatives of the SEC extended the period for consideration of submitted documents.

According to the commission, on the spot fund of WisdomTree the answer will be given before 05/15/2022. As for the BTC-ETF from One River, we will be able to find out the decision by 06/02/2022.

Thus, the regulator has a couple of months left to delve into all the details and make a decision. This window, formed due to the shift in the deadline for consideration of applications, does not please representatives of asset management companies. They expected that bitcoin funds would soon start trading on the Cboe BZX Exchange and the Arca exchange from New York.

Recall that the previous application from WisdomTree for a similar fund was rejected in the last month of last year. The answer was that the BZX exchange does not have enough data that the cryptocurrency market cannot be manipulated. After that, the management company submitted a second application in February 2022.

As for the One River application, it was submitted back in October 2021. SEC representatives constantly delay making a final decision. However, this deadline (until June 2) seems to be decisive.

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