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Bitcoin ETFs Get Last minute reprieve as SEC Reviews Decision

The America’s Securities and Exchange Commission (SEC) has declared to re-evaluate the disapproved orders dispensed on August 22nd for nine BTC exchange traded funds (ETFs).

SEC Commissioner Mrs. Hester Peirce declared by means of Twitter that the briefings given on Wednesday, dismissing the submissions of 9 BTC ETFs have been briefly remained undecided and awaits advance auditing.

As detailed by Live Bitcoin News, the Security Exchange Commission gave their resolution to dismiss requests by, Granite Shares, Dirrexion and Pro-Shares to include an aggregate of 9 Bitcoin ETFs on managed trades platforms. This resolution was written and handed out by staff-members representing the interests of SEC.

Ms. Peirce clarified that the Commission has the tact to delegate such undertakings to its employees and that it can opt to re-evaluate the employees’ resolution, which they have decided to do in this case.

A message to New York Stock Exchange Group adviser Eugene Schlanger, from the Commission's administrator Brent Fields composed:

 

“This communication is to inform you, according to Regulation 43 1 of  the Commission's Regulations of Practice, 17 CFR 201.431, the Commission  will audit the designated activity. As per Regulation 43 1 (e), the  Aug. 22nd verdict remains pending till SEC arranges something else. The  commission's administrator will inform you of other decision reached by  SEC."

 

Pro-Shares as well as Granite Shares have gotten the same message.

The Heroine That Crypto Deserves

Nicknamed 'Crypto Mom', the commissioner has been applauded by the digital money network when she disagreed with the SEC's dismissal of the Winklevoss-upheld Bitcoin ETF a month ago.

At the time of curating this article, Bitcoin is exchanging at $6521.49 an increment of almost two percent after the communication by SEC's aiming to re-evaluate the rejections.

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