There was a glimmer of hope that the VanEck Bitcoin ETF would make history gaining SEC approval. Alas, that can got kicked down the road again until Aug 19 and the SEC wants its questions answered.
VanEck Bitcoin ETF Decision Delayed as Expected
To be fair, it was a pretty tenuous optimism that the VanEck Bitcoin EFT decision would be the first to be approved by the SEC. Pretty much the entire community was expecting it to be delayed. Industry-known attorney Jake Chervinsky tweeted out on Sunday night how minimal chances of approval were:
17/ So, heading into Monday, here’s how I view the probabilities:
– Delay: 75.0%
– Denial: 24.9%
– Approval: 0.1%
I’ll keep you updated as the process plays out.
— Jake Chervinsky (@jchervinsky) May 19, 2019
But then the Bitwise ETF proposal got delayed and there was no news on VanEck. People started to question what it meant.
After all, this was not typical behavior from the SEC. All delays are usually bundled together. Moreover, SEC Commissioner Hester Pierce (fondly known…