SEC Delays Decision on NYDIG’s Spot Bitcoin ETF Proposal

SEC Delays Decision on NYDIG’s Spot Bitcoin ETF Proposal

The Securities and Exchange Commission (SEC) has extended the time period for ruling on NYDIG’s proposal for a spot bitcoin ETF by 60 days in order to have “sufficient time to consider the proposed rule change and any comments received.”

The SEC’s original deadline was Jan. 15, so now it has until March 15 to make a decision.In recent months, the SEC has rejected spot bitcoin ETF proposal from a number of investment companies, including Van Eck, WisdomTree and Kryptoin.It also recently delayed its decisions on spot bitcoin ETFs from Valkryie, Grayscale and Bitwise (Grayscale is owned by Digital Currency Group, which is the parent company of CoinDesk).In the past, the SEC has typically postponed its decisions on approving bitcoin ETFs as long as possible.SEC Chair Gary Gensler has indicated multiple times in the past that he prefers to see a bitcoin futures ETF over one that holds bitcoin directly. As of now, three bitcoin futures ETFs have begun trading in the U.S.

Read more: Institutional Bitcoin Broker NYDIG Valued at $7B in Whopping $1B Funding Round

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