Dado Ruvic/Reuters
The Securities and Exchange Commission said Wednesday it will delay a decision on whether to approve a bitcoin exchange-traded fund from asset manager VanEck, keeping investors waiting to hear when the US will get its first bitcoin ETF.
The regulator in mid-March acknowledged an application by CBOE Global Markets seeking approval to list shares of VanEck's bitcoin ETF, starting the clock on a 45-day window to come to a decision.
But the SEC now says it will push back its ruling until June 17.
"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," said J. Matthew DeLesDernier, assistant secretary at the SEC, in a notice Wednesday.
A review period can be extended for up to 240 days.
Bitcoin this month hit a record high near $65,000, coinciding with the public debut of Coinbase, the largest cryptocurrency exchange in the US.
VanEck previously filed for approval of a bitcoin ETF but withdrew the proposal in September 2019.
The SEC last week said it would begin a review of Kryptoin's application for a bitcoin ETF. Canadian regulators this year have already approved two such funds, as well as an ether ETF.
NOW WATCH: We tested a machine that brews beer at the push of a button
See Also:
- 3 reasons why ether is outperforming bitcoin, and why the trend can continue, according to JPMorgan
- The CEO of crypto exchange Kraken breaks down why he could 'easily' see Bitcoin reach $250,000 next year — and shares 2 emerging trends he's excited about
- The investing chief of crypto asset manager Arca shares the 3 themes and 10 tokens he's betting on — and explains how to execute his special-situations investing strategy in digital assets
