How many SEC may postpone the decision on the ETF?

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Contrary to the view that the month of August for financial markets: the quiet holiday period, when most traders are away for summer vacation, the dynamics of the August 2018 on all fronts is indicative of how strong is the volatility, triggered by low liquidity.
On the background of shocks to the Russian citizen, who this morning saw the national currency at the level above 66 rubles per dollar, events, cryptocurrency market a few fade into the background. However, an active debate on the future launch of new tools – Bitcoin-ETF continues to be the topic of the “hottest” news headlines covering events from the world of cryptocurrency.
The market is actively speculate rumors that the SEC does not take a decision on ETF Not only to 30 September, but in 2018 in General – as the market is not ready for ETFs, and the SEC is no answers to many questions, and it is unlikely the answers will appear in the near future.
Let me remind you that the key “stumbling block” in the commissioning of the ETF is the need to change the rules of the listing exchange CBOE and the abandonment of certain mechanisms to prevent market manipulation and rules that should prevent fraud and ensure fairness and equality of trade, to protect investors and the public interest.
However, those who argue that the decision of the SEC will be delayed further, and the question never will be decided, most likely are not familiar with the rules of regulatory authorities of the United States, and superficially dealt with in this issue.
In contrast to the Russian legislators, which had promised to adopt a law on the regulation of cryptocurrencies in Russia by spring, then by mid-summer, and now, the end of summer, and did postpone the issue to a September, Security Exchange Commission “wiggle room” in terms of time to make decisions is strictly limited.
According to the law, to the consideration of the SEC has until 180 days. That is, the decision on the application from VanEck and SolidX could drag it out for long, as they applied only in June.
But their application is not the only one. And if the Winklevoss brothers was refused, the other members still waiting in the wings. At the end of January to the Commission on securities and exchange Commission asked the NYSE Arca, Inc. And term of consideration of its application expired on 23 July. However, using a special amendment Commission SEC has postponed the decision for another 60 days. This maximum allowable time period. Thus, the conclusion of SEC in respect of the 5 ETF must occur no later than September 21.
It seems that crypto-investors have to wait so long, and soon a decision on Bitcoin ETF, whatever it is, it will be accepted.
Olga Prokhorova,
“International Financial Center”