Updates: Yet again, the SEC instituted proceedings on April 5, 2018 to determine whether it will approve or disapprove a proposal by Cboe BZX Exchange on behalf of GraniteShares Bitcoin ETF and GraniteShares Short Bitcoin ETF (see our discussion of the Cboe Order above).  On June 28, 2018 the SEC extended its period of review for the Cboe Order (the “Cboe Extension”).  The existing period of review was set to expire on July 17, 2018; however, under the Cboe Extension, the SEC has now extended its period of review by an additional 60 days until September 15, 2018.  The SEC must now either approve or disapprove the proposed rule change by this new deadline.

On June 15, 2018 the SEC extended its period of review for the Order (the “Extension”). The existing period of review was set to expire on June 24, 2018; however, under the Extension, the SEC has now extended its period of review by an additional 60 days until August 23, 2018. The SEC must now either approve or disapprove the proposed rule change by this new deadline.

On April 23, 2018, the SEC published a third order instituting proceedings to determine whether it will approve or disapprove another proposal for Bitcoin futures ETFs (the “Direxion NYSE Arca Order”).

On April 5, 2018, the SEC published a second order instituting proceedings to determine whether it will approve or disapprove another proposal for Bitcoin futures ETFs (the “Cboe Order”).

On March 23, 2018, the U.S. Securities and Exchange Commission (“SEC”) issued an order instituting proceedings to determine whether it will approve or disapprove a proposal for Bitcoin futures exchange-traded funds (“ETFs”) (the “Order”).

Commenters will have until April 19, 2018 to submit comments.  Those with rebuttals to the comments will have until May 3, 2018 to submit rebuttals.

Read more on our sister blog Derivatives & Repo Report

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