U.S. Securities and Exchange Commission postpones decision on Valkyrie Bitcoin ETF

The US Securities and Exchange Commission has postponed its decision on whether to approve Bitcoin (Bitcoin) Exchange-traded funds.

After receiving comments on the proposed rule changes for the new fund, the US Securities and Exchange Commission postponed its decision to submit a Bitcoin ETF to the Texas-based family investment fund Valkyrie Digital Assets.

According to an official document submitted by the U.S. Securities and Exchange Commission on Tuesday, the commission has Established It is appropriate to specify a longer period of time to take action on the proposed rule changes related to Bitcoin ETFs.Valkyrie first Submitted t’s applicationValkyrie Bitcoin Trust It was listed on the New York Stock Exchange in January this year.

The SEC noted that it has received comments on the fund issued in May 2021. The agency stated that it will extend the review period of the ETF for 45 days and will decide to reschedule it on August 10.

The new regulatory delay occurred shortly after the U.S. Securities and Exchange Commission delayed the approval of another major Bitcoin ETF. The review period for VanEck Bitcoin Trust was extended last week The second time this year. The regulator stated that the SEC is seeking to obtain more public comments within 45 days.

related: VanEck applies to the U.S. Securities and Exchange Commission for a new Bitcoin futures mutual fund

Jan van Eck, CEO of VanEck Associates statement Given the huge demand for Bitcoin ETFs in the United States, approval may only be a matter of time. The executive also said that the recent delay cannot be the last. “They don’t need to actually make a decision in August. It’s a bit like an artificial deadline, just like last week. The SEC did not act quickly in this regard,” he said.