The United States Securities and Exchange Commission (SEC) has delayed another Bitcoin exchange-traded fund (ETF) application
The US SEC announced that it has postponed its decision on the Valkyrie Bitcoin ETF until August. This is the third cryptocurrency ETF proposal the commission has postponed, with the crypto space now unsure if there will be a Bitcoin ETF in the US this year.
The regulator was set to decide on whether to approve the Valkyrie Bitcoin ETF proposal on 26 June. However, it has extended the review period for an additional 45 days until 10 August. The SEC pointed out that it needs more time to consider the Bitcoin ETF application.
The Valkyrie Bitcoin ETF proposal was filed by the New York Stock Exchange (NYSE) earlier this year. With this latest development, the Valkyrie Bitcoin ETF is the third postponed by the regulatory agency.
The SEC postponed the VanEck Bitcoin ETF decision last week, the second time it had done that so far this year. Per the SEC, it is seeking public comments from interested parties regarding how Bitcoin is resistant to price manipulations and other illegal acts.
The regulator also postponed its decision on the WisdomTree Bitcoin ETF application earlier this month. The SEC is dealing with eight Bitcoin ETF applications. There are five applications it is yet to consider, from Fidelity, Galaxy, NYDIG, Kryptoin and SkyBridge Capital. The SEC will also review the two Ether ETFs submitted earlier this year by VanEck and WisdomTree.
While the United States is yet to approve a single Bitcoin ETF, they have become popular in Canada. The Ontario Securities Commission has approved a few Bitcoin ETFs there, and three Ether ETFs are also active.
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Author: Hassan Maishera