Vaneck’s Digital Assets Research Officer, Matthew Sigel, criticized the US Securities and Exchange Commission (SEC) for the proposal that lists the company’s options for Bitcoin Spot ETF.
In particular, the Commission continued to issue delayed responses to all digital assets related to ETF proposals/modifications, despite the encryption -friendly policy of the Donald Trump administration.
The SEC delay is disappointing and does not provide feedback, Vaneck’s Sigel says.
On April 3, 2025, CBOE (Chicago Board of Exchange) submitted the proposed rules on the optional trading list of Vaneck Bitcoin ETF (HODL). Depending on the situation, the optional transaction gives investors the right to purchase and sell assets at a specific price before a certain date.
Following the success of the US Bitcoin Spot ETF, the optional trading has become a potential market expansion mode, and several asset managers have submitted applications to provide options to each ETF.
In particular, the SEC, such as Fidelity Wise Origin Bitcoin Fund (FBTC), BLACKROCK ISHARS BITCOIN Trust (IBIT), GrayScale Bitcoin Mini Trust (BTC) We have been approved for this request for coin ETF.
However, following the early 45th review, the committee delayed the response to the CBOE proposal to list the trading options to the Vaneck Bitcoin ETF (HODL). In the X post on May 23, Matthew Sigel strongly criticized this decision, which was described as “frustration” and did not provide transparency to investors.
While tagging the SEC’s Crypto Task Force Officer, Hester Pierce, SIGEL complained that the committee issued a delayed response without providing opinions or feedback. Vaneck EXEC responded to user opinions and explained the asset administration’s objection to this development. He said.
This was the first decision date, so despite the initial opinion of the SEC, it was not rejected and delayed. Especially lacking stupid feedback…
It is worth noting that the delayed response by the SEC was a very common response to digital assets for ETF -related proposals. The committee can wait 240 days to the final decision date, as shown in the 2024 Bitcoin Spot ETF. However, Sigel’s concerns arise because there is no explanation of this delayed decision, especially considering that the optional transactions for other Bitcoin branch ETFs have been approved.
Bitcoin price outline
At the time of writing, Bitcoin is $ 108,349, reflecting 5.23%and 17.71%of profits, respectively.
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