SEC seeks public comment as it weighs prediction market ETFs
Bitwise, Roundhill Investments and GraniteShares had their prediction market ETF applications put on hold by the SEC earlier this month.
The US securities regulator is delaying the launch of a recent wave of “novel ETFs,” including those that allow investors to bet on the outcome of events, to consider the implications of introducing the new products.
In a statement on Wednesday, SEC Chair Paul Atkins said that “novel products raise novel questions” and instructed his staff to seek public feedback on how the regulator should respond to these applications.
Bitwise filed in February for a series of prediction market ETFs under the PredictionShares brand to track US election results, while Roundhill Investments and GraniteShares also filed for prediction market ETFs that month.