The SEC has delayed its decision on a bitcoin ETF again, pushing deadline back 45 days as it mulls approval for first ever US crypto fund
- The SEC on Friday pushed back deadlines on decisions on whether to approve bitcoin-ETF applications.
- The agency put on hold decisions on four applications, including the
Global X Bitcoin Trust.
- The agency has applications pending for at least 20 companies.
The Securities and Exchange Commission on Friday again delayed decisions on whether or not it will approve bitcoin exchange-traded funds by pushing back deadlines on four applications competing to become the first such asset to launch in the US.
Applications to launch the Global X
"The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and any comments," the SEC said in filings accompanying date changes.
A decision on the Global X Bitcoin Trust is due November 21 and word on the Valkyrie XBTO Bitcoin Futures Fund is now set for December 8. WisdomTree Bitcoin Trust's decision is scheduled for December 11 and Kryptoin Bitcoin ETF's decision is scheduled for December 24.
The SEC in early September extended its pending decision to approve the VanEck Bitcoin Trust by 60 days to November 14. VanEck's filing launched the sprint by companies toward filing for bitcoin ETF approvals. The agency is considering applications from more than 20 companies.
SEC Chairman Gary Gensler has been clamping down on cryptocurrencies and most recently compared stablecoins to "poker chips". But Gensler has indicated he's more open to cryptocurrency ETFs, suggesting those that comply with strict rules for mutual funds could provide investor protection. He has also appeared to favor approving a futures-based ETF.
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