The SEC has delayed its decision on the NYDIG Bitcoin ETF by two months

The United States Securities and Exchange Commission (SEC) has delayed its decision on the NYDIG Bitcoin ETF for another two months. This is another decision that the regulator has delayed.

SEC delays NYDIG Bitcoin ETF decision by two months

The SEC has delayed its decision on the Stone Ridge Holdings Group’s NYDIG Bitcoin ETF, according to an announcement published on January 4, 2022. The decision will now be delayed for up to two months. This is another Bitcoin ETF that the regulator has delayed.

The initial deadline for the decision, January 15, 2022, is rapidly approaching. The SEC decided to extend the period for approving or disapproving rule changes, as done in the past.

The VanEck Bitcoin ETF is one of those funds that has been delayed multiple times and gets a lot of attention because of it. Although it was ultimately rejected, the delay was resolved so that the SEC could receive public comment on the investment vehicle.

The SEC has cited investor protection as one of the main reasons behind these delays. Chairman Gary Gensler has told the US Congress that the crypto market needs more protection from investors, which is a thorn in the side of the market. However, some have said these delays could have consequences for the market, including SEC Commissioner Hester Peirce.

The SEC has been vocal about the need for better regulation and investor protection before allowing ETFs. It recently rejected Valkyrie and Kryptoin’s Bitcoin spot ETFs, which continues the trend of dismissing spot ETFs.

However, Bitcoin futures-based ETFs have been approved, and Gensler has been accepting them more. The Bitcoin ProShares strategy has performed well, and the Valkyrie Bitcoin Futures ETFs have also performed strongly.

The SEC wants to pursue regulatory decisions first, although it is unclear when the US will release a broad regulatory framework. It’s working, and 2022 seems to bring news on the matter, which could bring the uncertainty around ETFs to a halt.

Sign up for a Binance account here (Discount 10% trading fees): https://accounts.binance.com/en/register?ref=29171587

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS