The SEC has issued a public notice that reports a bitcoin ETF delay.
Earlier, on March 29, the SEC proposed to postpone the ETF proposal for 45 days until May 16, 2019, citing the need for a “longer period” to make this decision.
Currently, there are two Bitcoin ETF applications in front of the regulator: one from Bitwise Asset Management-NYSE Arca and the other from VanEck-CBOE.
In light of this delay, the SEC will make a final decision on the ETF on October 13 to offer Bitwise-NYSE Arca.
Jake Chervinsky, a member of the judicial security group Kobre & Kim, said that any hearing before the aforementioned dates would only lead to delays, and not to a final decision.
"The SEC will certainly delay both ETF offers two more times."
One of the main reasons for the SEC’s indecisiveness in ETF offers is bitcoin volatility and the expansion of the cryptocurrency market.
Before the March delay, the SEC chairman said that the main reasons for the delays are the vulnerability of the cryptocurrency market to manipulation, as well as unrestrained price volatility.