However, industry pundits believe that the agency may finally be ready to approve one under incoming Chair Gary Gensler, a former Commodity Futures Trading Commission (CFTC) who has been fairly bullish on crypto and blockchain, teaching courses on the technology at MIT in recent years. VanEck filed for the ETF with Cboe BZX Exchange earlier this year, with Cboe publishing the 19b-4 at the beginning of March. Once the document is published in the Federal Register (the nation’s logbook), the general public will have 21 days to submit comments on the SEC’s portal.
The SEC can extend the review period up to 240 days before it has to make a final decision. When evaluating past applications, it has always extended these decisions to their full time limit.