ETF bitcoin 10th of August
The fate of the Bitcoin ETF will NOT be decided on August 10th, as the comment period won't be over
(Securities lawyer clarifies)
Apparently the August 10th date going around the community which claims to have said that will be when the SEC makes a decision on ETFs. Unfortunately, that's impossible, even though much of the community now seems to be under the impression that it's a definitive date.
The way this works is that the SEC issues a notice, which is then published in the Federal Register.
As you will find stated clearly in the notice, the period is within 45 days from the date of publication in the Federal Register - not the date the notice is released by the SEC (Failure to understand this distinction is the source of the incorrect August 10th date). The date of publication in the Federal Register was July 2nd.
This means they have until August 16th. Bear in mind that it can be extended, and even once the period ends, the SEC may "initiate proceedings" to assist in making a decision.
Hope this is helpful and dispels any misinformation about the timings you have
(Securities lawyer clarifies)
Apparently the August 10th date going around the community which claims to have said that will be when the SEC makes a decision on ETFs. Unfortunately, that's impossible, even though much of the community now seems to be under the impression that it's a definitive date.
The way this works is that the SEC issues a notice, which is then published in the Federal Register.
As you will find stated clearly in the notice, the period is within 45 days from the date of publication in the Federal Register - not the date the notice is released by the SEC (Failure to understand this distinction is the source of the incorrect August 10th date). The date of publication in the Federal Register was July 2nd.
This means they have until August 16th. Bear in mind that it can be extended, and even once the period ends, the SEC may "initiate proceedings" to assist in making a decision.
Hope this is helpful and dispels any misinformation about the timings you have
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