A tweet by a renowned American lawyer, Jake Chervinsky, the United States Securities and Exchange Commision decision on the rejected nine Bitcoin ETFs would not be made until December. Notably, the crypto trader, Ran NeuNer make false accusations on the 2nd November this year that the SEC would likely take a call on the Bitcoin ETFs by the 5th November.

You can see the tweets below here:

This is wrong. The November 5 deadline is for the *public* to submit statements to the SEC, *not* for the SEC to conclude its review of the rejected bitcoin ETFs. The SEC needs time to review those statements before writing a final order. It takes a while & won't be done Monday. https://t.co/vr1Upjzq7R — Jake Chervinsky (@jchervinsky) November 3, 2018

In Chervinsky’s tweet, he states that the 5th of November is just a deadline for the public to submit their statements to the Commission rather than the authority to finish its review of the previous nine denied Bitcoin ETFs. Chervinsky sustained on his tweet suggesting that the SEC would more than likely need time to review the statements submitted by the public before coming out with the final decision.

Moreover, the lawyer clarified that the current deadline for the staff over at the SEC to decide on the VanEck/Solid ETF is the end of December this year (specifically the 29th). But this can even be extended to February 27th next year.

As stated by BTC Manager

“The prolonged tug of war between the financial watchdog and the crypto community came into the fray on July 27, 2018, when the SEC rejected the Winklevoss brother’s application seeking approval for a Bitcoin ETF.”

Back in August, the financial regulator rejected nine more applications which were seeking permission to establish a Bitcoin ETF in the United States. Surprisingly though, the Commission came to this decision after a review session which lasted for more than eight months.

What are your thoughts? Let us know what you think down below in the comments!