SEC delayed a decision on a Bitcoin ETF application from VanEck
The Securities and Exchange Commission (SEC) has delayed a decision on VanEck’s latest bid to create a spot Bitcoin exchange-traded fund (ETF).
SEC delays decision on VanEck’s latest bitcoin ETF application
The order set Oct. 11 as the date on which the SEC would “either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.” The previous deadline was Aug. 27. The SEC noted in the order that it had received no public comments on VanEck’s submission.
VanEck’s most recent application was filed on June 24.
VanEck previously sought SEC approval but was denied in November after a months-long process. Numerous other attempts to score the SEC’s nod for a crypto ETF have failed. In its disapproval orders, the SEC has consistently cited investor protection and market manipulation concerns.
Among the firms trying to create a spot, bitcoin ETF is issuer Grayscale, which received a rejection on June 29. Grayscale subsequently filed a lawsuit in an effort to challenge that decision.
Though the SEC has rejected all efforts to create the first US bitcoin ETF, it did clear the way for the listing of several futures-tied ETFs.
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