No ETFs Until 2019? The SEC Has Been Taking Its Time

Here's why the VanEck/SolidX ETF has a greater chance than the nine ETF temporarily rejected by the SEC in August, and why a BTC ETF isn't likely to appear until 2019.What's so special about this ETF?

Cointelegraph has previously covered ETFs and why they are important for mass adoption.

The SEC have been taking its time to issue a decision on the aforementioned ETF. First, on Aug. 7, the agency postponed the case until Sept. 30.

In the notice, the SEC stated that it had received more than 1,300 comments on the proposed rule change to list and trade shares of the VanEck SolidX ETF. It didn't specify why exactly the delay was taking place.

On Sept. 20, the SEC requested further comments regarding its decision on the VanEck SolidX ETF. The watchdog explained that it has not "Reached any conclusions with respect to any of the issues involved," and is asking for additional comments from interested parties, addressing the adequacy of the BZX exchange's statement in support of the proposal.

The SEC now has until February 2019 to come up with a decision.

Thus, the SEC's relationship with crypto-related ETFs has been rocky so far.

When it rejected nine applications to list and trade various BTC ETFs in August, the regulator made a U-turn as soon as on the following day and stated that it would review its decision of all those ETFs in the future - the agency has still not released a deadline for that, however.

On July 26, the SEC's rejection of the Winklevoss brothers' application for a Bitcoin ETF also came with a silver lining.

Still, the SEC has explained all its rejections for ETFs in a similar fashion.