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Matthew Sigel, the top of Digital Assets Research at Vaneck, has criticized the US Securities and Exchange Commission (SEC) due to a delayed answer to a proposal to placed on options that take care of the Bitcoin Spot ETF of the corporate.
In particular, despite a crypto-friendly policy of the administration of Donald Trump, the Commission has continued to issue delayed answers to all recent ETF suggestions/changes in reference to Digital Asset.
SEC delay is frustrating, doesn’t offer feedback, says Vaneck's Sigel
On April 3, 2025, the Chicago Board of Exchange (CBOE) submitted a proposed change change to list options that were traded with the Vaneck Bitcoin ETF (Hodl). For the context, the trade with options grants investors the suitable to purchase and sell a asset at a certain price before a certain date.
After the resounding success of the US Bitcoin -Spot -Tfs, the choice trade became a possible market expansion. Several asset managers submitted applications to supply their respective ETFs options.
In particular, the SEC has given approval for this request for several Bitcoin ETFs, including the Bitcoin Fund (Fidelity Wise Origin Bitcoin Fund), Blackrock Ishares Bitcoin Trust (IBIT), Grayscale Bitcoin Mini Trust (BTC) and the Bitcoin ETF (Bitb).
After the primary 45-day review, nonetheless, the Commission postponed a solution to CBOE's proposal to list trading options within the Vaneck Bitcoin ETF (Hodl). In an X -Post on May 23, Matthew Sigel emphasized this decision, which he described as “frustrating” and didn’t offer transparency to investors.
When Sigel Hester Pierce, the top of the Krypto -Sksk Force of the SEC, marked, he complained that the commission had not given a late answer along with this decision and had not granted any comments or feedback. The Vaneck Exec explained the asset manager's objection to this development and responded to a user comment. He said.
This was the primary decision date, so it was not rejected, only delayed, though the primary comments from the SEC were addressed. It is the shortage of feedback that is especially annoying …
It could be very value noting that delayed answers from the SEC were a standard response for ETF-related suggestions for digital assets. The Commission can decide to wait 240 days after the applying, as may be seen within the Bitcoin Spot -ETFS in 2024. However, Sigel's concerns are based on the shortage of a declaration on this delayed decision, especially once you consider that trading with options for certain other Bitcoin Spot ETFs has been approved.
Bitcoin price overview
At the time of the letter, Bitcoin is $ 108,349, which reflects profits of 5.23% or 17.71% within the last seven or 30 days.
BTC trade at 108,244 USD within the Daily Chart | Source: Btcusdt diagram on tradingview.com
Selected picture of iStock, Diagram by Tradingview
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