The United States Securities and Exchange Commission (SEC) has postponed another application for a Bitcoin Exchange Traded Fund (ETF)
The US SEC has announced that it has postponed its decision on the Valkyrie Bitcoin ETF until August. This is the third proposal for a cryptocurrency ETF that the commission has postponed as the crypto space is now uncertain whether there will be a Bitcoin ETF in the US this year.
The regulator should decide on the approval of the Valkyrie Bitcoin ETF proposal on June 26th. However, it has extended the review period for another 45 days to August 10th. The SEC indicated that it would need more time to review the Bitcoin ETF application.
The Valkyrie Bitcoin ETF proposal was submitted by the New York Stock Exchange (NYSE) earlier this year. With this latest development, the Valkyrie Bitcoin ETF is the third regulator postponed.
The SEC postponed the VanEck Bitcoin ETF’s decision last week, for the second time this year. According to the SEC, she is seeking public comments from interested parties on how resistant Bitcoin is to price manipulation and other illegal activities.
The regulator also postponed its decision on the WisdomTree Bitcoin ETF filing earlier this month. The SEC is dealing with eight Bitcoin ETF applications. There are five uses left to consider, from Fidelity, Galaxy, NYDIG, Kryptoin, and SkyBridge Capital. The SEC will also review the two Ether ETFs filed by VanEck and WisdomTree earlier this year.
While the United States doesn’t have to approve a single Bitcoin ETF yet, it has become popular in Canada. The Ontario Securities Commission has approved some Bitcoin ETFs there, and three Ether ETFs are also active.
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