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SEC files multiple amendments relating to Bitcoin (BTC) ETFs

The U.S. Securities and Exchange Commission (SEC) filed an amendment to the proposed rule change to list and trade shares of the GraniteShares Bitcoin ETF and the GraniteShares Short Bitcoin ETF. The amendment was filed on October 4, 2018.

The SEC has outlined in a separate document that the order disapproving the proposed rule change concerning the GraniteShares Bitcoin ETF and the GraniteShares Short Bitcoin ETF (SR-CboeBZX2018-001) will remain in effect pending the Commission’s review.

The SEC has ordered that the by October 26, 2018, parties interested in filing a statement in support or opposition of the GraniteShares ETFs should do so.

The GraniteShares Bitcoin ETF proposals were filed by Cboe BZX Exchange on January 5, 2018, after which the SEC delayed their initial decision. On August 22, 2018, the SEC issued an order disapproving the ETFs, but the following day stated that it “would review the Division’s action pursuant to delegated authority.”

A decision from the SEC regarding the GraniteShares ETFs is expected after October 26, 2018.

On October 4, SEC also released an amendment relating to the Direxion Daily Bitcoin Shares, and an amendment relating to the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF.

Both amendments mirror the GraniteShares amendment in that a decision can be expected after October 26, 2018. Interested parties may file statements in support or opposition before this deadline.