The U.S. Securities and Exchange Commission (SEC) pushed a decision on WisdomTree’s bitcoin (BTC, +0.84%) exchange-traded fund (ETF) application to the autumn.
In a Tuesday order launching proceedings on whether or not the agency should approve the application, the SEC asked for feedback from the general public and industry experts on the WisdomTree application and whether the ETF would be a safe product for investors. Comments must be submitted within three weeks of the document’s publication in the Federal Register, the national logbook, with rebuttals filed within seven weeks.
The SEC is currently reviewing over a dozen active bitcoin ETF applications. Industry participants, including WisdomTree, have also filed applications for an ether (ETH, +2.13%) ETF product and a bitcoin futures ETF. The federal securities regulator has yet to approve any crypto ETF within the U.S., though proponents claim that a bitcoin ETF can help investors by creating a more regulated market.