In January, Valkyrie Digital Assets filed an application with the Securities and Exchange Commission to launch its Bitcoin ETF on the New York Stock Exchange.
The Securities and Exchange Commission of the United States has postponed its judgment with whether or not to approve a Bitcoin (BTC) exchange-traded fund.
After hearing comments on the proposed new rule surrounding the new fund, the SEC has delayed its judgment on a Bitcoin ETF filing by Texas-based family investment fund Valkyrie Digital Assets.
According to an official SEC filing made on Tuesday, the commission determined that it was appropriate to give the proposed rule change affecting the Bitcoin ETF more time to be considered.
Valkyrie first applied for the Valkyrie Bitcoin Trust on the New York Stock Exchange in January of this year.
The Securities and Exchange Commission (SEC) revealed that it has gathered comments on the fund, which were published in May 2021. The authority has delayed the review time for the ETF by 45 days, and the decision has been rescheduled for August 10.
The current regulatory delay follows after the SEC extended the assessment period for VanEck’s Bitcoin Trust for the second time this year, delaying clearance for another major Bitcoin ETF.
The SEC is requesting additional public comments for a 45-day period, according to the regulator.
Considering the massive demand for a Bitcoin ETF in the United States, VanEck Associates CEO Jan van Eck reckons approval is just a question of time.
The executive also hinted that the most recent delay might not be the last. “They don’t need to really make a decision in August. It’s an artificial deadline, similar to the one set last week. “The SEC is just not moving fast on this,” he added.