The U. S. Securities and Exchange Commission. It has extended the same 45-day deadline to decide on VanEck’s Bitcoin ETF application.
What happened: “The Commission believes it is appropriate to designate a longer era to take action on the proposed rule replacement so that it has sufficient time for proposed rule replacement and feedback received,” the US regulator said in a document.
The SEC has designated June 17, 2021 as the new date on which the resolution will be made.
Why it’s important: so far, the regulator has hesitated to approve a Bitcoin ETF for singles in the country, rejecting a number of applications over the years.
However, with Gary Gensler now in charge of the SEC, many were confident that 2021, however, could be Bitcoin-ETF’s long-awaited year.
See also: Best Cryptographic ETFs
Renewed optimism has led to more Bitcoin ETF programs through Fidelity Investments, NYDIG and even Grayscale Investments that have applied to convert Grayscale Bitcoin Trust, Bitcoin’s global fund, into ETFs.
“We expect the commission to approve the Bitcoin ETFs and recognize that VanEck has filed the first active 19b-4 among all issuers,” VanEck’s director of virtual asset strategy Bloomberg Gabor Gurbacs told Bloomberg Gabor Gurbacs, a Bitcoin ETF is no longer controversial. . . »