SEC delays decision on Valkyrie Bitcoin ETF

Published at: June 23, 2021

The United States Securities and Exchange Commission has postponed its decision on whether to approve a Bitcoin (BTC) exchange-traded fund.

The SEC has delayed its decision on a Bitcoin ETF filing by Texas-based family investment fund Valkyrie Digital Assets after receiving comments on the proposed rule change regarding the new fund.

According to an official Tuesday filing by the SEC, the commission has found that it was appropriate to designate a longer period to take action on the proposed rule change regarding the Bitcoin ETF. Valkyrie initially filed its application for the Valkyrie Bitcoin Trust on the New York Stock Exchange this January.

The SEC noted that it has received comments on the fund that were published in May 2021. The authority said that it is extending the review period for the ETF by 45 days, rescheduling the decision for Aug. 10.

The new regulatory delay comes shortly after the SEC delayed approval for another major Bitcoin ETF, extending last week the review period for VanEck’s Bitcoin Trust for the second time this year. The regulator said that the SEC was seeking additional public comments over a 45-day period.

Related: VanEck files for a new Bitcoin futures mutual fund with US SEC

VanEck Associates CEO Jan van Eck has stated that approval may only be a matter of time, given the huge demand for a Bitcoin ETF in the United States. The executive also suggested that the latest delay could not be the last. “They don’t need to really make a decision in August. It’s sort of an artificial deadline, as was the one last week. The SEC is just not moving fast on this,” he said.

Tags
Etf
Bitcoin
Regulation
United States
Sec
Cryptocurrencies
Government
Investments
Related Posts
SkyBridge Capital’s Anthony Scaramucci expects a pro-crypto presidential candidacy
Anthony Scaramucci, the founder of the hedge fund SkyBridge Capital, thinks that the next United States presidential candidate will likely be pro-cryptocurrency, given that the U.S. Securities and Exchange Commission (SEC) recently announced the approval of a fourth Bitcoin (BTC) futures exchange-traded fund (ETF). During an interview at SALT’s Crypto Bahamas conference, Scaramucci told Cointelegraph that he has been bullish on a pro-crypto presidential candidate since the SEC approved Bitcoin futures under the Securities Act of 1933 (‘33 Act) and the Securities Act of 1934 ('34 Act). He added: “The Congress is indicating that they are more crypto-friendly. You now …
Decentralization / May 5, 2022
Bitcoin futures ETFs: Good, but not quite there
The odds of the United States Securities and Exchange Commission (SEC) approving a Bitcoin (BTC) exchange-traded fund (ETF) before a physical Bitcoin ETF are higher than ever, courtesy of Chairman Gary Gensler’s now oft-repeated preference for the former. But here’s the issue: an ETF built around crypto futures isn’t the most efficient, economical or easiest route. Physically backed products are. They’re likely to attract more assets and open the crypto market to more investors. And they are much easier for investors to understand. This is why fund issuers are better off pressing the SEC for clarity on what’s needed to …
Etf / Oct. 21, 2021
BREAKING: Nasdaq listing hints that the SEC may soon approve ETF application from Valkyrie
The United States Securities and Exchange Commission, or SEC, may soon approve an application from crypto-asset manager Valkyrie for a Bitcoin (BTC) exchange-traded fund, or ETF, with the shares to be listed on the Nasdaq Stock Market. According to an Oct. 15 notice from the SEC, the agency has accepted the registration request for shares of Valkyrie’s Bitcoin Strategy ETF for listing on Nasdaq. In a letter from Nasdaq’s vice president of listing qualifications, Eun Ah Choi — filed the same day — the exchange said Valkyrie’s Bitcoin ETF shares had been certified. Related: New tickers and ARK filing shows …
Etf / Oct. 15, 2021
Fund management firm Global X files with the SEC for a Bitcoin ETF
New York-headquartered fund manager Global X Digital Assets has filed an application for a Bitcoin (BTC) exchange-traded fund (ETF) with the United States Securities and Exchange Commission. Filed on Wednesday, the application indicates that the proposed Global X Bitcoin Trust — a Delaware statutory trust formed in mid-July of this year — would, if approved, trade on the Cboe bZx exchange. The Bank of New York Mellon would serve as the trust’s administrator. As per the filing: “The Trust’s investment objective is to reflect the performance of the price of bitcoin less the expenses of the Trust’s operations. The Trust …
Adoption / July 22, 2021
Crypto Bahamas: Regulations enter critical stage as gov't shows interest
The crypto community and Wall Street converged last week in Nassau, Bahamas, to discuss the future of digital assets during SALT’s Crypto Bahamas conference. The SkyBridge Alternatives Conference (SALT) was also co-hosted this year by FTX, Sam Bankman-Fried’s cryptocurrency exchange. Anthony Scaramucci, founder of the hedge fund SkyBridge Capital, kicked off Crypto Bahamas with a press conference explaining that the goal behind the event was to merge the traditional financial world with the crypto community: “Crypto Bahamas combines the crypto native FTX audience with the SkyBridge asset management firm audience. We are bringing these two worlds together to create a …
Adoption / May 3, 2022