The U.S Securities and Exchange Commission has 45 days to deliver an initial decision on the VanEck Bitcoin exchange-traded fund filing, according to Cointelegraph. The SEC can also extend the deliberation window up to 249 days before delivering a final decision.
The public has a three-week period to submit comments for the Bitcoin ETF on the SEC website.
VanEck was one of the BTC ETF hopefuls back in 2017 when several companies were looking to gain SEC approval for a Bitcoin ETF.
The Chicago Board Options Exchange filed to list the VanEck Bitcoin ETF in January.
SolidX filed a lawsuit in January, accusing VanEck of plagiarizing its Bitcoin ETF.
The SEC has often cited the unregulated nature of the Bitcoin spot market as a cause for concern for the BTC ETF, which opens opportunities for price manipulation.
In February, the Canadian securities regulators approved a couple of Bitcoin ETFs, which analysts say could spur the SEC to reconsider its previous stance.Bitcoin is currently gaining. BTC/USD is up 1.44%.
