The US Securities and Exchange Commission (SEC) has delayed VanEck’s planned exchange-traded fund (ETF) plan for bitcoin (BTC) for another 45 days.
under his management more than $65 billion asset holder VanEck applied on June 24 to set up a bitcoin ETF that will invest in the spot markets.
Had VanEck’s application been approved, this ETF would have been listed on the Cboe BZX exchange.
As a result of the SEC’s evaluation of VanEck’s application, the approval process of the application Postponement for another 45 days took the decision. The SEC’s application by VanEck on October 11 expected to approve or reject.
VanEck has also worked in the past to set up a bitcoin-focused exchange-traded fund. The SEC filed VanEck’s previous filing in November 2021 on the bitcoin market. “fraud and manipulation” He dismissed his cases, citing reasons.
The SEC has so far rejected many applications to set up a bitcoin ETF that will invest in spot markets. However, currently bitcoin ETFs that invest in futures markets exists.