The Securities and Exchange Commission (SEC) has prolonged the time interval for ruling on NYDIG’s proposal for a spot bitcoin ETF by 60 days as a way to have “sufficient time to consider the proposed rule change and any comments received.”
- The SEC’s authentic deadline was Jan. 15, so now it has till March 15 to decide.
- In current months, the SEC has rejected spot bitcoin ETF proposal from quite a few funding firms, together with Van Eck, WisdomTree and Kryptoin.
- It additionally lately delayed its selections on spot bitcoin ETFs from Valkryie, Grayscale and Bitwise (Grayscale is owned by Digital Currency Group, which is the guardian firm of CoinDesk).
- In the previous, the SEC has usually postponed its selections on approving bitcoin ETFs so long as potential.
- SEC Chair Gary Gensler has indicated a number of instances up to now that he prefers to see a bitcoin futures ETF over one which holds bitcoin straight. As of now, three bitcoin futures ETFs have begun buying and selling within the U.S.
Read extra: Institutional Bitcoin Broker NYDIG Valued at $7B in Whopping $1B Funding Round