The U.S. SEC delays decision on Bitcoin ETF by Valkyrie Digital Assets to August 10

The U.S. SEC delayed a decision on the Valkyrie Bitcoin ETF to Aug. 10, extended the 45-day window to make a decision, which was due to expire June 26.

“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 the comments received. Accordingly, pursuant to Section 19(b)(2) of the Act,6 the Commission designates August 10, 2021, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.” according to the filing.

Last month, in testimony before the House of Representative’s subcommittee on financial services, SEC’s chairman Gensler said “there are many challenges and gaps for investor protection in crypto markets”. He added that “none of the exchanges trading crypto tokens has registered yet as an exchange with the SEC”.

The SEC rejected some earlier bitcoin ETF applications and recently delayed a decision on the VanEck Bitcoin Trust for a second time. An application by WisdomTree was delayed on June 2.

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