SEC once again delays bitcoin ETF decision

Bitcoin ETP

The US Securities and Exchange Commission (SEC) has once again delayed on approving two bitcoin ETFs in another blow to cryptocurrency investors.

The US regulator will decide in October whether to allow the VanEck SolidX Bitcoin Trust and the Bitwise Bitcoin ETF Trust to start trading.

Another issuer, Wilshire Phoenix, has also seen a decision on its ETF be postponed for the first time until 29 September.

The SEC said in a statement on Monday: “The commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change.”

This is now the US regulator’s final extension having already delayed the decision on the Bitwise and VanEck bitcoin ETFs in May.

Bitwise’s listing on NYSE Arca has been delayed until 13 October while VanEck’s has been pushed back until 18 October.

Why bitcoin ETFs deserve a green light

Bitcoin has experienced somewhat of a renaissance this year having rocketed from under $4,000 at the start of the year to trade over $11,000, as at 13 August.

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