SEC’s decision on Winklevoss bitcoin ETF coming March 11

Regulation | January 6, 2017 By:

The Securities and Exchange Commission (SEC) on Wednesday designated March 11 as the date by which it would either approve or disapprove the Winklevoss Bitcoin Trust ETF, which would be the first to exclusively track the digital currency.

The decision comes roughly eight months after regulators first asked for public comment on the fund, and some three years since Tyler and Cameron Winklevoss first put the ETF in registration. It would also most likely be made by Walter “Jay” Clayton, President-elect Donald Trump’s pick for SEC chair. Clayton is a partner in the New York office of law firm Sullivan & Cromwell.

“The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change,” the SEC wrote in a statement.

This is just the latest extension the SEC has given itself to come to a final decision regarding the Winkelvoss ETF.

Neither Cameron nor Tyler Winklevoss were able to comment on the decision due to restrictions from the regulator.