SEC stalls WisdomTree’s Bitcoin ETF approval, postpones to July

The United States Securities and Exchange Commission will not be giving an immediate decision on whether CBOE BZX can list WisdomTree’s proposed Bitcoin ETF.

According to an official statement published on May 26, the Commission has decided to push back its decision on WisdomTree’s Bitcoin ETF application from May 30 to July 14. The SEC wrote:

The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received.

The said rule change is to allow the listing of WisdomTree Bitcoin Trust (BTCW) on CBOE. The change was proposed by the exchange on March 26. So far, the SEC has received only four comments.

As reported by BTC PEERS, WisdomTree submitted a Bitcoin ETF application with the SEC in March. Since then, the financial watchdog is yet to approve or reject the application.

This is not the first time the SEC is stalling or rejecting a Bitcoin ETF application. In April, a similar proposal to list VanEck’s ETF was postponed to June 17. To date, no crypto ETF product has been able to launch in the U.S.