The Securities and Exchange Commission delayed making a decision on VanEck’s bitcoin ETF (exchange-traded fund) application until February 27, 2019.
Just hours earlier, Gabor Gurbacs — VanEck’s director of digital asset strategy — expressed confidence that SEC approval of the investment firm’s bitcoin ETF application was around the corner.
In June 2018 and again in March 2017, the SEC rejected the bitcoin ETF applications submitted by the Winklevoss twins, Tyler and Cameron.
As VanEck waits for an SEC decision, it’s plowing ahead to roll out bitcoin futures in the first quarter of 2019 through a partnership with Nasdaq — the world’s second-largest stock exchange.
The CFTC, which regulates bitcoin as a commodity, has so far approved just two crypto futures products: one from the Chicago Mercantile Exchange (CME), and another from the Chicago Board Options Exchange (CBOE).