March 13, Not 11 - Deadline of BTC ETF by SEC
The deadline is fast approaching for the SEC or Securities and Exchange Commission to decide on the first BTC ETF. Since March 11 falls on Saturday, Bitcoin community has been confuse and it has been ruled out to push it on March 13 instead of March 11.
Deadline March 11 - According To SEC
The issued notice last January 4 by the Securities and Exchange Commission has been dated March 11, 2017 as the time date where they will be deciding whether to disapprove or approve the proposed ruling for change of Document No. SR-BatsBZX-2016-30 as being changed by Amendment No. 1. This ruling satisfies the change of trading and listing of Coin ETF on exchange industry Bats Global Market.
It has been 240 days timeframe since it’s propose date and published on July 14, 2016 to 11th of March 2017 for Federal Register’s comments. Hence, the date falls on Saturday so they have to change it to another date because Government offices will be close on that day.
SEC Raised March 13 To Be The New Deadline
The 17th Title of the Code of Federal Regulations asked CFE or Commodity and Securities Exchanges details the time computation. In part 201 of 17 CFE of Rule 160 discuss as follows :
Another part says :
The next office hours following March 11 is March 13.
Spencer Bogart the former Needham analyst and currently the Blockchain Capital head researcher and managing director prompted BMr as follows :
Following are other Deadlines of SEC Decisions for BTC ETF
March 30, 2017
Date announced on January 3 by SEC by which the approval or disapproval of the proposed change of rulings Document No. SR-NYSEArca-2016-101. The will be imposing the trading and listing of Solid BTC Trust on NYSE ARCA. Unlike the first decision date, it will not be push forwarded because it falls on Thursday.
October 7, 2017
Date is the possible decision making for SEC and that is 240 days from February 9 publication. This will be the listing and trading of GBTC on NYSE Arca. The date is not yet fixed because it also falls on Saturday which is not a Government office hours and might be push to October 9, 2017 which is Monday.
On these deadline the SEC or Securities and Exchange Commission can then decide weather they will approve or disapprove the trading and listing of the following firms on BTC ETF. They can also be as ease where they will do nothing on the process making it automatically approved.