The U.S. Securities and Exchange Commission (SEC) has announced that it needs extra time to decide on an application by VanEck-SolidX for a Bitcoin ETF. The commission revised the deadline for the decision which will be December 29th 2018.

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The SEC will make another decision by 29 December 2018 on how to proceed. It could then postpone for an additional 60 days, putting off the issue until 27 February 2019, and this would be the final cut-off point legally allowable.

So they can delay it one last time after this one., 27 February is max. Both dates fall within the up movement of the cycle.