Matthew Sigel, head of the Digital Asset Research in Vaneck, criticized the American Commission for Securities and Stock Exchange (SEC) for a delayed response to the proposal to mention the Bitcoin ETF options for the ETF options.

In particular, the Commission still issued delayed answers to all recent proposals/amendments of ETF related to digital assets, despite the cryptocurrency policy of Donald Trump’s administration.

Sec delay is frustrating, does not offer opinions, says Sigel

April 3, 2025 Chicago Board of Exchange (CBEE) filed The proposed change of rule to the list of list options in Vaneck Bitcoin ETF (HODL). In the case of context, the options turn the right to buy and sell assets at a certain price before a certain date.

After the huge success of ETF from Bitcoin Spot, trade in options became a potential way of expanding the market, and several asset managers submitted applications to offer options for their ETF.

In particular, SEC has awarded the approval of this conclusion for many ETF Bitcoin, including Fideli Wise Origin Bitcoin Fund (FBTC), Blackrock Ishares Bitcoin Trust (IBIT), Grayscale Bitcoin Mini Trust (BTC) and BitWise Bitcoin ETF (Bitb).

However, after the initial 45-day review, the Commission delayed the response to the CBEE proposal regarding the list of trade in Vaneck Bitcoin ETF (HODL). IN X Post On May 23, Matthew Sigel strongly criticized the decision, which he described as “frustrating” and did not offer investors not transparency.

During the marking of Hester Pierce, head of the SEC task group, Sigel complained that the Commission had issued a delayed answer without offering any comments or opinions with this decision. Vaneck Exec explained the opposition of the asset manager towards this development Corresponding to the user’s comment. He said.

This was the first date of the decision, so it was not rejected, simply delayed, even though the preliminary SEC comments were resolved. This is a lack of feedback that is particularly annoying …

It is worth noting that delayed SEC reactions were a fairly common response to proposals related to ETF digital assets. The Commission may wait until the final date of the decision, i.e. 240 days after submitting the application, as can be seen in the case of ETF at Bitcoin Spot in 2024. However, Sigel’s fears result from the lack of explanation of this delayed judgment, especially considering that trade in options was approved for some other Bitcoin points.

Bitcoin price review

At the time of writing, bitcoins trade at USD 108,349, reflecting profits of 5.23% and 17.71% in the last seven and 30 days, respectively.

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