According to a newly revealed filing, the U.S. Securities and Exchange Commission (SEC) won’t make a decision until early next year on alternative asset management firm Valkyrie’s proposed exchange-traded fund for Bitcoin.
The SEC has delayed a proposed rule change decision that would pave the way for the Valkyrie Bitcoin Fund until January 7. In its filing dated November 1, the regulator said:
“The Commission considers it appropriate to extend the consideration period necessary to examine the documents submitted to it to a longer period in order to decide whether to approve or disapprove the request.”
Investors are still the main asset of the US. bitcoin It’s waiting to see if it gives the green light to the first price-linked ETF.
Late last month, the cryptocurrency markets took action with the launch of the futures contract-linked Bitcoin ETF. As we reported earlier, Bitcoin futures ETFs from ProShares and then Valkyrie were accepted first. SEC Chairman Gary Gensler favored futures-based funds over spot Bitcoin ETFs, saying the Investment Company Act of 1940 provided significant investor protections for Bitcoin futures-based instruments.